According to the article on PageSix.com, the landmark USD 150 million deal of Jay Z with the Live Nation was coming to an end. The rap mogul is discovering opinions of other bigwigs in the music industry about involvement in Roc Nation, which is his recorded-music business.In 2008, Jay signed a historic 10-year deal with the Live Nation for 150 million dollars. That “360 deal” is ending in 2018, which may trigger a buyout agreement, meaning that either party might sell their share in the Roc Nation company to the other co-owner or acquire the company completely.
A music insider stated that the 360 deal of Jay with the Live Nation is not going to be extended. The Live Nation had bought a part of the rights of the artists and recorded music, but they aren’t going to extend any of those relationships. The Live Nation isn’t in the line of recorded music buying any more. The artists of the Roc Nation include Shakira, Fat Joe, Meek Mill, Rihanna, and Jay. Jay and Desiree Perez (Jay’s top Roc Nation exec) met with the UMG CEO and chairman, Sir Lucian Grainge, at his office in Santa Monica, California, which sparked speculation that Universal Music Group might buy a share in the Roc Nation.
That move might give Jay Z more resources of developing new artists and support his streaming service Tidal that’s in an acrimonious dispute with the Spotify services and larger Apple Music. UMG insiders stated that the company had already made a deal for distribution with the Roc Nation.Desiree Perez has been Jay’s close associate for nearly 20 years. She played a big part in the Samsung deal with Rihana. She’s part of the cooperative running the whole Roc Nation operation, its management sections, publishing, and labeling operations.