There was much speculation lately as to what Jay-Z would do now that he is no longer
Def Jam’s president. People were saying he’s starting a label with Apple, while
others said he won’t be doing anything because no label is going to be willing
to give him what he wants.
Well now it looks like we can put all the speculation to
rest as it has been revealed Jay has entered into a new deal with entertainment
company Live Nation. Live Nation is a multi faceted company which deals with
everything from selling music to selling concert tickets and now it looks like
they are giving Jay his own label under their umbrella.
According to the deal, Jay-Z will get a total of $150
million over the ten years the deal is set to run. Live Nation will
provide the over head expenses for Roc Nation, which is to be the name of Jay’s
new label. Jay said he chose to go with Live Nation because they were
looking to the future. “Were trying to reach the consumer in so many
different ways right now. Everyone’s trying to figure it out. I want to be on
the front lines in that fight.”
One aspect of the deal that has not been finalized is the
buyout between Def Jam and Live Nation that must be made due to the contractual
obligations of Jay. He still owes the label one more studio album so there will
have to be something worked out on that before any new material is released
through Live Nation.
Either way this is a monumental deal for not only Jay but
hip hop as a whole. Come on 150 million! None of our other artists have ever
seen a deal like this. It looks like Jay has done it again and showed us how
this shit can really be done. You gotta give up to him. In his own words, “Pay
us like you owe us for all the years that you hoed us!” Does it get any better?
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