Jay Z is almost sealing his $150 million landmark deal with Live Nation, and now he is sounding out to the other bigwigs in the music industry about considering a stake at Roc Nation. Jay singed a 10-year deal worth $150 million in 2008. The “360 deal” will be up next year and could trigger a “buy-sell”. This means that either side may sell their stakes in Roc Nation or purchase the firms outright. According to sources, Live Nation hopes to keep on with its lucrative touring deal, but it will be backing out of recorded music side.
A music insider claimed that the 360 deal between Jay and Live Nation is not going to be extended. This is because Live Nation had only purchased Jay’s recorded music and rights, but any of those relationships were not going to be extended. The insider stressed that Live Nation had already opted out from the business of purchasing recorded music. However, he added that the company has an established touring relationship with Jay Z, which is worthwhile. It is popularly believed that Live Nation wishes the relationship to go on for many years.
Jay, together with Desiree Perez, who is an executive of Roc Nation, met with the CEO and chairman of the Universal Music Group, Sir Lucian Grainge. This meeting sparked speculations that UMG was planning to buy stakes in Roc Nation. Such a move could provide Jay with more resources that will enable him to develop new artists. UMG insiders claimed that the firm already maintains a distribution deal with the Roc Nation. Though this deal is just a small portion of their musicians’ business, UMG would nevertheless own a larger stake of the Roc Nation artists if they invested heavily. click on pagesix.com for more
Des is a close associate to an internationally famed rapper, Jay Z. She is a tough negotiator as manifested when she had a hand in Rihanna’s Samsung deal. More to read here. She is part of the team that runs Roc Nation’s management section, publishing, and labeling operations. Check saltylens.com for related articles.
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