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The rapper is reportedly seeking new investors for the non-live side of his Roc Nation business as the partners' ten-year 360 deal reaches its end
By IQ on 24 Apr 2017
Jay Z is reportedly seeking new investors for the recorded side of his Roc Nation business, as the full-service entertainment company’s ten-year ‘360’ deal with Live Nation comes to an end.
Roc Nation was established in 2008 as a subsidiary of Live Nation. The mammoth deal, rumoured to be worth US$152 million, remains one of the biggest of 360 agreements, creating a new company incorporating recording, management, publishing, concert promotion and TV/film production divisions.
According to sources quoted by the New York Post’s Page Six, Live Nation wants out of Roc Nation’s recorded-music business, with Carter reportedly seeking new investment, potentially from Universal Music Group.
“Live Nation is not in the business of buying recorded music any more”
“Jay’s 360 deal with Live Nation is not being extended,” says one ‘insider’. “Live Nation had bought into the artists’ rights and recorded music, but they are not extending any of those relationships. Live Nation is not in the business of buying recorded music any more.
A spokesperson for Live Nation tells Billboard that is indeed the case: “Live Nation has a new long-term deal with Jay Z, and we expect to continue being equity partners in Roc Nation for many years to come.”
Artists signed to Roc Nation include Rihanna, Lil Wayne, Big Sean, J. Cole, Grimes, DJ Khaled and Demi Lovato.
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