Rap mogul Jay-Z’s Roc Nation reportedly continues to expand and reach new heights as reports claim it has reached an agreement with Universial Music Group.
According to reports, the multi-year deal will allow new albums from Jigga and Roc Nation princess Rihanna to fall under its umbrella.
Vivendi SA’s VIV.FR +0.75% Universal Music Group said Monday it had inked a multiyear deal with rapper Shawn “Jay-Z” Carter to house his music label Roc Nation, snagging the coveted rights to release Mr. Carter’s next album along with the forthcoming records of other top-selling artists including Rihanna. Mr. Carter said the deal allowed his five-year-old Roc Nation to “continue to operate as an independent label with the strength, power and reach of the best major.” Universal didn’t disclose the financial terms of the deal. (Wall Street Journal)
The news comes just a few months after Jay managed to persuade hitmaker Timbaland to join the Roc.
“”And I Won’t Surrender It With Beats By TIMBALAND” 01.30.2013 Roc Nation welcomes TIMBALAND to the family.,” a Life + Times post reads along with a photo of both music stars lounging together in a recording studio. (Life + Times)
Over the winter, buzz about a potential bidding war for T.I. involving Roc Nation surfaced.
Sources close to T.I. tell TMZ … he’s already met with some of the industry’s biggest names … including Dr. Dre, who asked him to join Interscope over dinner at Katana recently (see picture) … and Jay-Z, who wants T.I. in the RocNation family. We’re told Sony’s put a $50 million deal on the table so far … and Universal’s meeting with him later this week to make an offer too. (TMZ)
Last month, Young Hov landed on Forbes’ “Hip-Hop Wealthiest Artists” list.
1: Diddy, $580 M 2: Jay-Z $475M 3: Dr Dre $350M 4: Birdman $150M 5: 50 Cent $125M Birdman: The New Orleans native cofounded Cash Money Records two decades ago with his brother Ronald “Slim” Williams (Birdman’s net worth would be well over $200 million if his ownership in the label wasn’t shared). 50 Cent: Now he’s trying to replicate the latter feat with companies like SMS Audio, his answer to Dr. Dre’s Beats, and SK Energy, which has its sights set on category leader 5-Hour Energy. (Forbes)