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Hip Hop Mega Star and Business Icon Jay-Z is reportedly negotiating a deal with concert promoter Live Nation Inc. worth $150 million in cash and project funding. An article posed Thursday on MCSNBC.com states “under the proposed deal, Jay-Z would be paid about $25 million upfront, another $25 million toward concert tours and advances of $10 million for each of at least three albums”.
The article went on to say “Live Nation would pay Jay-Z about $20 million for publishing, licensing and other rights, and put up $50 million toward a joint venture dubbed Roc Nation through which Jay-Z would sign artists and engage in other entertainment projects”.
The deal would link the company and Hova in virtually all aspects of his entertainment career over the next 10 years. The buzz around the internet is that similar deals have been struck between Live Nation and superstar Iris band U2 as well as Madonna.
Although Jay has stepped down as president of Def-Jam, he still owes the label one more studio album before he can completely break ties.
Source: MSNBC.com
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Jigga is the shyt...straight up
Posted on Apr- 7-2008, 9:05 AM