Jay-z Linked To $150 Million Deal With Live Nationby Contributor | 03 April 2008
Hip-hop artist Jay-Z could be set to follow U2 and Madonna in signing a multi-million dollar deal with concert promoter Live Nation.
Reports from the states claimed on Thursday that the 38-year-old rapper is set to agree a $150 million (£75 million) contract with Live Nation.
According to the New York Times and Wall Street Journal among others, the deal would encompass almost every aspect of Jay-Z's career.
Last month Live Nation announced a similar deal with U2, although the rock group's recording rights were left with Universal.
Reports on the mooted Jay-Z deal say the contract will cover the next decade and involve a $25 million (£12.5 million) upfront fee and then $10 million (£5 million) per album.
The deal will reportedly create Jay-Z's own music venture Roc Nation which will incorporate publishing, licensing and other rights.
The New York Times quoted the singer, real name Shawn Carter, as saying he was the "Rolling Stones of hip-hop".
Jay-Z would have to end his association with Def Jam for the deal to go ahead, although the rapper is still contracted for one more album with the record label.