BARNETT’S NEW PRIORITY: The once vital hip-hop label Priority is back in business, and Capitol Music Group’s got it. Priority comes to Steve Barnett’s empire via a joint venture with Insurgency Music, whose co-founder Michael Cohen will serve as President. The label was once the home of Dr. Dre, Ice Cube, Jay-Z, N.W.A. and Snoop Dogg.  “Priority has played an important role in the history of Capitol Records, and I wanted an executive on the cutting edge of music to helm and reinvigorate the label,” Barnett said of Cohen, who comes from the EDM sector. Priority will relaunch with the release of the buzzing underground club track “Higher” from Just Blaze & Baauer featuring Jay-Z. (7/22a)