June 25, 2016  

Live Nation Close to Financing Jay-Z's Various Ventures

April 3, 2008 (6:41 am) GMT
Striving for the front line, Jay-Z finds the same vision with Live Nation that will give him a 150 million dollar deal.

A massive deal may well be on the way between and Live Nation. A partnership, reportedly worth $150 million, is being offered to the rapper by the concert promoter to launch a new business venture called Roc Nation which name is derived from Jay's label Roc-A-Fella. It is expected to be finalized this week, New York Times reported.

Should the deal is struck, Live Nation would finance the start-up cost of Jay-Z's ventures that may include touring, a new music label, managing, publishing and merchandising for the next decade and its profit will then be split with the promoter. For a start, Live Nation has been backing Jay's current tour with which runs over 20 dates.

Jay is still due to release one more album for Def Jam where he resigned as its CEO late last year due to the label's refusal of a more lucrative deal. He is then bound to release three albums within ten years with each album being paid $10 million in advance. Live Nation chairman Michael Kohl revealed the reason tying a deal with Jay, reasoning "What (Jay-Z's) done has kind of mirrored what we want to do and where we think we're going."

This deal, as Jay described, is a bridge "to reach the consumer in so many different ways right now. Everyone's trying to figure it out. I want to be on the front lines in that fight."

Live Nation has successfully struck a deal with two big artists, and prior to this.

More Jay-Z News

TODAY'S HEADLINES

  1. 'Rogue One' Releases More New Photos. Also Get Detail of Mon Mothma's Bigger Role
  2. Taylor Swift Flies to U.K. to Meet Tom Hiddleston's Mom. See Picture of Their Happy Outing
  3. 'Game of Thrones' Season Finale Won't Slow Down the Pace, People Will Die
  4. Audrina Patridge and Fiance Welcome Baby Girl Kirra Max
  5. Getting Married? Tyga Calls Kylie Jenner His 'Wifey'
  6. Christina Aguilera Performs 'Change' on 'Jimmy Kimmel Live!' to Support Orlando
  7. Justin Bieber's Music Video Vixen Xenia Deli, 26, Marries 62-Year-Old Man in Lavish Wedding
  8. Mariah Carey Reportedly Wants to Withhold Sex Before Her Wedding