Jay-Z Leaves Sony & Signs A Deal With Universal Music

Image

By: Hannah J. Karp | Wall Street Journal

Universal Music Group said Monday it had inked a multiyear deal with rapper Shawn “Jay-Z” Carter to house his music label Roc Nation, snagging the coveted rights to release Mr. Carter’s next album along with the forthcoming records of other top-selling artists including Rihanna.
Mr. Carter said the deal allowed his five-year-old Roc Nation to “continue to operate as an independent label with the strength, power and reach of the best major.” Universal didn’t disclose the financial terms of the deal.

Unlike Jay-Z — who made the transition this week from hip-hop mogul to sports agent — most people aren’t well enough established in one vocation to simultaneously venture into another. Jonnelle Marte has some tips for aspiring Renaissance men and women. Photo: Getty Images.

The move is a return to Universal for Mr. Carter, 43 years old, who served as president of Universal’s Island Def Jam Music Group—in addition to being one of the label’s recording artists—from 2004 until late 2007 when his contract to do so expired.

Shortly after departing from Universal, Mr. Carter joined forces with concert promoter Live Nation LYV +0.99% to launch Roc Nation—an entertainment company that includes the Roc Nation music label as well as management, publishing, merchandising and other business ventures.

To release Roc Nation records, Mr. Carter struck distribution deals with both Warner Music Group’s Atlantic Records and Sony Music Entertainment. As those deals approached expiration, the competition among the industry’s big labels over Roc Nation became fierce, according to a person familiar with the matter.

The deal with Universal comes a week after the launch of Mr. Carter’s new sports agency, Roc Nation Sports—a collaboration with the Creative Artists Agency that has already lured New York Yankees veteran second baseman Robinson Cano.

Mr. Cano, who said last week he was parting ways with top baseball agent Scott Boras to join the new venture, could garner a multiyear deal worth more than $200 million when he becomes a free agent next season.

Mr. Boras couldn’t immediately be reached for comment. Mr. Carter is also a minority owner of the National Basketball Association’s Brooklyn Nets.

Universal Chief Executive Lucian Grainge said Roc Nation has swiftly become “one of the most successful brands in music with a reputation for developing some of today¹s most influential and popular talent.”

About Rasheeda The Boss Chick

Love & Hip-­Hop Atlanta Star & Female MC​. Best known as the “Boss Chick”, the "Georgia Peach" & "The Queen Of Crunk".
This entry was posted in Entertainment and tagged , , , , , , . Bookmark the permalink.

Leave a Comment

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s