Jay-Z Closing in on Sony Deal
It seems that Jay-Z is close to finalizing his deal with Sony, and will soon be bringing all of his future recordings there, according to Billboard sources.
The pending contract will allow Jay-Z’s albums from Roc Nation to be distributed by Sony’s Epic Records, and is “95% complete.”
A formal announcement regarding details and absolute confirmation is expected in the upcoming weeks.
Last week Jay-Z announced his departure from Def Jam was a certainty, and it seems that his split from the label cost the rapper $5 million.
However, he is now in a position to be in control of his future master recordings.
The rapper has sold a total of more than 29 million albums, according to Nielsen SoundScan.
Jay-Z signed a deal with Live Nation last year that has him pinned down to the concert promoter in an agreement that concerns touring, publishing, and albums.
Live Nation paid a reported $150 million for a deal that includes being a part of Roc Nation, as well as a partner in the rapper’s recording and touring endeavors for the next ten years.
Right now the deal is just a bit more than a rumor, as nothing has been confirmed.
Jay-Z’s Roc Nation partner, Jay Brown, has been spotted in both LA and New York with Sony Corp CEO Howard Stringer, intensifying the notion that Jay-Z does plan on releasing his record through the company.
When and if the deal goes through (which it most likely will), Jay-Z will probably release his anticipated 11th album, The Blueprint 3, via the label.
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