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WEDNESDAY, NOVEMBER 25, 2009
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Jay-Z to Sign Record $150M Deal

Live Nation deal sign of industry upheaval

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(Newser) – Rapper Jay-Z is about to decamp from record label Def Jam and sign a $150 million deal with concert promoter Live Nation, reports the New York Times. The deal, Live Nation's biggest to date, will give the superstar financial backing for tours, his own record label and other related ventures such as talent consulting. It reflects the ongoing scramble in the music business as CD sales plunge and fans download more and more of their music.

Live Nation already has smaller deals with Madonna and U2; this is the company's first foray into hip-hop. “I’ve turned into the Rolling Stones of hip-hop," boasted Jay-Z. “I want to operate like an indie band—play the music on tour instead of radio. Hopefully, we’ll get hits out of there and radio will pick it up, but we won’t make it with that in mind.”

Jay-Z at Guastavino's in New York City. The rap superstar is about to sign a $150 Million deal with Live Nation which could have implications for the whole music industry.
Jay-Z at Guastavino's in New York City. The rap superstar is about to sign a $150 Million deal with Live Nation which could have implications for the whole music industry.   (KRT Photos)
Music royalty Beyonce and Jay-Z. Jay-Z is poised to sign a $150 million deal with Live Nation.
Music royalty Beyonce and Jay-Z. Jay-Z is poised to sign a $150 million deal with Live Nation.   (KRT Photos)
Beyonce and Jay-Z attend the Emporio Armani 2008-2009 men's collection in Milan. Jay-Z is expected to sign a $150 Million deal with Live Nation.
Beyonce and Jay-Z attend the Emporio Armani 2008-2009 men's collection in Milan. Jay-Z is expected to sign a $150 Million deal with Live Nation.   (AP Photo/Luca Bruno)
Jay-Z holds four MTV Video Music awards in Miami, Sunday, Aug. 29, 2004. Jay-Z is close to reaching a $150 million deal with Live Nation Inc.
Jay-Z holds four MTV Video Music awards in Miami, Sunday, Aug. 29, 2004. Jay-Z is close to reaching a $150 million deal with Live Nation Inc.   (AP Photo/J. Pat Carter, FILE)
Jay-Z performs during the opening of the Heart of the City tour with Mary J. Blige Saturday, March 22, 2008, in Miami
Jay-Z performs during the opening of the Heart of the City tour with Mary J. Blige Saturday, March 22, 2008, in Miami   (AP Photo/Luis M. Alvarez)
Rapper Jay-Z performs during a taping of BET's countdown show
Rapper Jay-Z performs during a taping of BET's countdown show "106th and Park" at Steiner Studios Thursday, Nov. 8, 2007 in Brooklyn, NY.   (AP Photo/Gary He)
Rapper Jay Z arrives at The Apollo Theatre for the premiere of
Rapper Jay Z arrives at The Apollo Theatre for the premiere of "American Gangster", Friday, Oct. 19, 2007 in New York.   (AP Photo/Peter Kramer)
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