Roc Nation
According to The New York Times, Jay-Z is finalizing a deal with concert promoter Live Nation for $150 million, one of the richest contracts ever awarded to a musician. This partnership, which will be named Roc Nation, will include financing for Jay-Z's own entertainment ventures (which are expected to become a record label, talent/management agency, and music publishing company). Live Nation is expected to contribute $5 million a year in overhead for five years, with another $25 million available to finance Jay-Z's acquisitions or investments. Roc Nation would then split profits with Live Nation. To finalize the deal, Jay-Z will depart from Def Jam Records after he turns in his last required album under his talent contract. Jay-Z will be the first hip-hop artist to sign with Live Nation.