In 2008, rapper, Jay Z made a 10-year deal selling his music with Live Nation through his recorded music business, Roc Nation for about $150 million. Live Nation has reported that they are hoping to continue the deal with Jay Z but will be backing out of recording music. As a result, Jay Z has reportedly been searching out other music bigwigs. As a result, either Live Action or Jay Z could buy Roc Nation outright or one side could sell their stake in the deal to the other.
Before the news broke out to the public, Jay Z and his business partner at Roc Nation met with Sir Lucian Grange who is the CEO of Universal Music Group (UMG). The meeting allegedly sparked speculation that UMG could buy its own stake in Roc Nation. If they do, it will likely open the door to more artists under Jay Z and bolster the Tidal streaming support. However, UMG insiders are claiming that UMG does already have a small stake with Roc Nation. However, if they make a larger investment at this time, then they’ll have one of the main stakes with Roc Nation.
Desiree Perez is the Chief Operating Officer at Roc Nation. She has been working with Jay Z for about the past 20 years. It has been reported that she has a remarkable talent for crunching numbers and is such a shrewd negotiator that she beat Empire’s own Cookie. She also played a very strong part in Rihanna’s Samsung deal. Other artists she works with include Shakria, Jana Fleishman, and Ty Smith.
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