The 10 year recorded-music deal that artist Jay Z signed with Live Nation is slated to come to a close in 2018. Due to this, Jay Z is in talks with the executives of other music industry companies to gauge their interest in buying a stake in his recorded-music business. The deal he signed with Live Nation, which is worth $150 million, incorporated a “buy-sell” clause which means that either Jay Z or Live Nation can either sell their interest in Roc Nation to the other party or purchase the entire company as an option as well. For more of this, click on pagesix.com.
While Live Nation plans to continue partnering with Jay Z’s musical tours, they have chosen to exit the recorded-music business side of Roc Nation. It was decided by the management team of Live Nation that from now on they would focus on putting on tours and exit the business of buying artist rights and recorded music.
The negotiations between Jay Z and Live Nation are being partially handled by Desiree Perez, an executive at Roc Nation and longtime business partner of Jay Z. She had met with the CEO and Chairman of Universal Music among other contending companies that want to partner with the company on future recorded music deals. In addition to Jay Z, other artists that work through Roc Nation includes Fat Joe, Shakira, and Rihanna. Hit on tidal.com for additional reading.
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Desiree Perez has worked with Jay Z for several years on multiple projects and companies in the music industry. Read more about Dez on onmogul.com. One project involved Jay Z’s wife, Beyoncé, for whom she handled the negotiations for the Beyoncé Formation tour. Perez also played a significant role in the deal that was struck between Samsung and Rihanna and from which both have profited very well. Desiree Perez is a founding member of the Hova Circle of Influence which has played a large role in the music industry since its foundation.