Jay-Z’s highly publicized $150 million deal with Live nation is soon concluding. With the aim of focusing his business interests elsewhere, Jay Z is putting the word across to other Industry bigwigs that they can acquire his stake at Roc Nation, a recording music company he developed and currently owns.
The deal he signed with Live Nation in 2008 was valued at $150 million; this agreement will be up next year as the ten years’ partnership will be coming to an end. What this means that any of the parties could sell their stake at the company so that the other side can have an exclusive stake at the company.
Live Nation is hoping to continue its profitable touring deal with Jay Z. However, they are intending on backing out on the Recorded music aspect of the agreement.
Some of the artists on Roc Nations roster include Rihanna, Meek Mill, Shakira and Fat Joe among many other A-list artists. Jay Z hopes to develop the artists under Roc Nations roster with the aim of competing better with Apple Music and Spotify in the music streaming services.
Jay Z and his business associate Desiree Perez had a meeting with Sir Lucian who is the CEO of Universal Music Group on Wednesday. The meeting took place at Lucian’s Santa Monica offices in California which sparked a lot of buzz as interested parties think that Universal Music Group might be interested in purchasing a stake in Roc nation
Desiree Perez is a longtime associate of Jay Z and they’ve been working together for more than twenty years. She has excellent negotiating skills and is incredibly qualified in managing SC enterprises. She has previously worked with Rihanna on the Samsung deal. Desiree has the knack of crunching numbers and is a known fierce negotiator as her history negotiating suggests. and Follow him Twitter.com