Almost a decade ago Jay Z and Live Nation met up and signed a prolific agreement between the two parties. Live Nation would sign Jay Z, and the Roc Nation company, to a ten year contract worth $150 million in total. That gigantic sum of money helped to continue Jay Z’s progressive rise to the top of the hip hop food chain. Now the prolific mogul and legendary producer is looking to see what could potentially come next for his business empire. Live Nation and Jay Z have hit a wall where they each have the opportunity to walk away and pursue better deals. Read related article on pagesix.com.
Desiree Perez, a business partner and long time associate of Jay, has been involved with preparing Roc Nation for any potential move. In fact, Perez and Jay Z made a trip to Santa Monica to sit down with the Chairman and CEO over at Universal Music Group. Universal Music Group isn’t publicly pursuing a contract with Jay Z and Live Nation but the writing appears to be on the wall. Lucian Grainge, the aforementioned CEO, knows that bringing Jay Z on board could be a huge deal for both parties — especially with Roc Nations extensive list of artists including Rihanna, Fat Joe, Shakira and Meek Mill. More of this on igstars.com
Right now the crossroads for Live Nation and Jay Z seem to center around the recorded music aspect of their contract. Over the past decade we have seen the music industry change in fundamental ways. Live Nation has watched these changes and has decided that they want to get out of buying music. An insider with sources close to Live Nation said, “Live Nation had bought into the artists’ rights and recorded music, but they are not extending any of those relationships.” The same insider went on to point out that Live Nation simply isn’t buying any recorded music at this point in time.
Meanwhile, UMG and Jay Z could be heating up in the near future. An insider at UMG said, “It would be great to get further into business with him.” The source went on to add that no official talks have yet taken place.
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