Universal Music Group has reported that it has inked a multiyear deal with Shawn “Jay-Z” Carter to house his music label Roc Nation, gaining the rights to release his next album along with the forthcoming records of other top-selling artists including Rihanna.
Regarding the deal, Jay-Z said that it allowed his Roc Nation label to “continue to operate as an independent label with the strength, power and reach of the best major.” The move is a return to Universal for Mr. Carter, 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.
The deal with Universal comes only a week after the launch of Jay-Z’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.
Also, log on to Spotify on April 10 at 12 p.m. EST to hear the 2013 Budweiser Made In America Festival lineup, which returns to the Benjamin Franklin Parkway in Philadelphia Labor Day Weekend (August 31-September 1).
- Source: Wall Street Journal