Jay-Z is reportedly close to signing a $150 million deal with Live Nation Inc.
The rapper would be with Live Nation for ten years under an agreement that would give the concert promoter a financial stake in virtually every aspect of his career.
The contract also calls for an upfront payment of $25 million, plus advance payments of $10 million per album for a minimum of three albums, along with $25 million toward concert performances and an additional $20 million in exchange for publishing, licensing and other rights.
“I’ve turned into the Rolling Stones of hip-hop,” Jay-Z said of the move.
The Jigga Man has decided to leave Def Jam for the deal, but he stills owes his long-time record label another studio album.
Live Nation also struck similar deals with Madonna and U2.
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Tags: Jay-Z
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2 Responses to “Jay-Z Leaves Def Jam To Sign $150M Deal With Live Nation”
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April 3rd, 2008 at 8:12 pm
yall look good together
October 30th, 2008 at 10:26 pm
[...] will be Jay-Z’s final album for Def Jam Records. He will release his next albums under the concert promoter, Live [...]