Jay-Z's other-other partner: Live Nation
Jay-Z is apparently all about the partnerships, these days. First, there’s his current tour with Mary J. Blige, which stopped at Nassau Coliseum last week. Then, there are the rumors of his pending marriage to Beyonce that surfaced this week after the couple applied for a marriage license.But Hova has yet another partnership up his Roc-a-Fella sleeves. The hip-hop mogul is reportedly close to reaching a $150 million deal that will team him with Live Nation Inc. for all is music-related businesses for the next 10 years, according to published reports.
As part of the arrangement, Jay would get a $25 million upfront payment, plus advance payments of $10 million per album for a minimum of three albums and $25 million toward concert tours. The company would also pay $20 million in exchange for publishing, licensing and other rights.
Live Nation was also expected to commit $50 million to finance his new label, to be called Roc Nation, following his exit from Def Jam, where he was president for three years before leaving in December. Jay has one album left on his contract with Def Jam, which he expects to deliver late this year.
The deal is the latest in the exodus of big-name musicians from their traditional contracts as record companies struggle with lower sales and an inability to harness new technologies. Last week, U2 signed a similar deal with Live Nation for an estimated $100 million, which excluded their album sales, while Madonna landed $120 million from Live Nation for a partnership that included all her music-related ventures, including albums recorded after her forthcoming “Hard Candy” release.

Though Jay-Z’s hefty 79% fall off from his opening week sales has some worried, H.O.V.A. still has the area locked down, as “Kingdom Come” holds down a second week atop the Newsday charts. The Beatles hang tough too, along with Tony Bennett. They all beat the national No. 1 Incubus’ “Light Grenades,” which sold 165,000 copies in its opening week.