10 Years ago, Jay Z made headlines when he sparked a deal with Live Nation for $150 million dollars. This deal is now coming to an end and he is looking for new music industry leaders to place a mark in his recorded music business known as Roc Nation. The original deal with Live Nation was signed in 2008.
The original deal brought with it the deal known as the 360. This deal is what is triggering talk about the sell-buy stake of Roc Nation. This could allow for the business to be purchased by one of the companies. It could mean that Roc Nation purchases the complete deal or that Jay Z could purchase the whole business.
For Jay Z, the portion of Live Nation which tours with Jay Z is still maintaining its position for touring with Jay Z however they no longer want to participate in the recorded music side of the deal. Someone who is close to the situation has said that the deal with Live Nation is no longer going to be extended for the purchased rights to artists and their recorded music as they are no longer extending into the relationships with those artists. More to read on runninglip.com.
The sources close to the situation add that the long standing relationship with Jay is very appealing and they wish to continue their end for a number of years down the road. Jay Z and his partner with Roc Nation, Desiree Perez have began talks with other labels which would give Jay Z the ability to pull together more resources in order to place more artists on the streaming services. The meeting took place between the Universal Music Group when he met with them on the Santa Monica, California offices where the talks are that Universal would purchase a portion of Roc Nation.
The insiders who are with Universal say that there is already a deal with Roc Nation that allows for distribution however this is said to only be a small portion of the business with Roc Nation. The talks are to allow for more and bigger investments into Roc Nation. Related article on hitsdailydouble.com.
Desiree is very much into social media, check her page, visit https://www.linkedin.com/in/desiree-perez-b9451222. For updates on Desiree’s recent timeline activities, click on crunchbase.com.