one of the best business minds in hip-hop ever

April 3rd, 2008

This is a great example of how business should be done!

LOS ANGELES (AP) – Jay-Z is close to reaching a $150 million deal with Live Nation Inc., that will give the concert promoter a stake in virtually every aspect of the rapper and entrepreneur’s career, according to news reports.

The contract covers Jay-Z’s music and music-related businesses for the next 10 years, the New York Times and Wall Street Journal reported on their Web sites late Wednesday, citing sources familiar with the agreement.

As part of the arrangement, Jay-Z would get a $25 million upfront payment, plus advance payments of $10 million per album for a minimum of three albums and $25 million toward concert tours.  The company would also pay $20 million in exchange for publishing, licensing and other rights.

Live Nation was also expected to commit $50 million to finance Jay-Z’s investments and his entertainment venture, to be called Roc Nation, which is expected to include his own record label, music publishing, talent consulting and managing projects.

“I’ve turned into the Rolling Stones of hip-hop,” Jay-Z told the Times.

Like I told you before Jay, you inspire me!

Entry Filed under: Business, Think About It!