Jay-Z is ready to cash in on his $150 million deal with Live Nation as it comes to an end. The rap musician is planning to take his recorded music to ROC Nation. The 10-year deal which was signed in 2008 has been a success, but Jay-Z doesn’t have any plans of extending the contract.
The deal is now up for grabs. As such, one party is at liberty to sell their ROC Nation’s share to the other party or buy the company entirely. According to sources, Live Nation wants to back out of Jay-Z recorded music, but there are prospects that they want to continue with their touring deal with him. This is because Live Nation wants to stop its recorded music business.
Universal Music Group is said to be interested in buying a stake in Jay Z’s ROC Nation. The speculations comes a few days after Desiree Perez, ROC Nation executive officer together with Jay-Z were in a meeting with Universal Music Group’s CEO and Chairman, Mr. Lucian Grainge in Santa Monica. If this comes to fruition, it could give Jay more resources to venture into other deals. Click on billboard.com for additional article.
This deal between ROC Nation and Universal Music won’t be the first one. Sources say UMC has a distribution contract with ROC Nation already. However the new deal would be fundamental for both sides, and it would see UMG having a greater stake of ROC Nation’s artists.
Perez exudes success as a music producer and is known for her tremendous work in Beyonce and Jay Z’s On the Run Tour. She has been a close ally of Jay-Z for about twenty years. She has a good track record in running SC Enterprises. Dez Perez, as she is popularly known runs much of ROC Nation’s executive activities. Head over to onmogul.com for a glimpse of Dez new profile page.
She is a strong negotiator. Dez is known to be the force behind Rihanna’s Samsung deal. She was very influential in negotiating the $25 million contract between ROC Nation’s artist Rihanna and Samsung. For updates on Dez recent timeline activities, check on crunchbase.com.
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