It seems Jay-Z is at it again. After leaving Def Jam, many wondered what he would do next, well it seems the answer is here.
According to AllHipHop.com, Jay-Z is set to sign a 10 year deal, $150 million dollar deal with Live Nation, which would include Roc Nation a new entertainment venture for Jay-Z. Live Nation was created in 2005, when Clear Channel Communications was split into three separate companies: Clear Channel Communications, Clear Channel Outdoor, and Live Nation.
Under the terms of the deal, Jay-Z will receive an upfront payment of $25 million dollars, a general advance of $25 million dollars and an advance payment of $10 million dollars per album, for at least three albums. Jay-Z will also receive a series of payments totaling about $20 million dollars for publishing, licensing and the rights to other endeavors produced by Roc Nation, as well as another $25 million dollars to target investments or acquisitions. Finally, Live Nation will provide $5 million dollars a year to Roc Nation to support the new companyâ€™s overhead for the next five years.
This is a good look for Jay-Z, as similar deals have went out to legends U2 and Madonna. If the deal goes through, Jay-Z will add more than $60 million dollars in cash to his bottom line.