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Jay Z's New 10-Year Live Nation Deal Is Worth $200 Million


(Forbes)

Back in 2008, Jay Z stunned the music world by signing a ten-year, $150 million deal with touring giant Live Nation. “I’ve turned into the Rolling Stones of hip-hop,” the rapper said at the time.

Jay Z may have to find an even loftier comparison for himself. He has inked a new decade-long, exclusive worldwide pact with Live Nation worth $200 million, FORBES has learned.

“Jay Z is one of the world’s preeminent touring artists,” said Michael Rapino, Live Nation's president and chief executive officer, in a statement released earlier today. “This strengthens the creative and business partnership of someone that continues to expand his touring base and reach.”

“Live Nation and I entered unchartered territory in 2008," added Jay Z. "Over nine years, we have traveled the world producing historic music experiences. Michael Rapino is an industry visionary, and this renewed partnership is a testament to our longstanding relationship and the talented individuals at Live Nation. For the next ten years, we will continue redefining the live event landscape."

Neither Live Nation nor Jay Z's team would comment on specifics. But the deal appears to be focused on live music; unlike his last pact, which provided advances for albums, recorded music has not been mentioned in official descriptions of the deal.

Jay Z and Live Nation also co-own Roc Nation, a joint venture operated as a joint venture. Today's release did not mention any change to that structure.

Earlier this week, Jay Z pulled to within a hair of Diddy in FORBES' annual hip-hop net worth ranking, sporting a $810 million fortune. That number should only grow as the new Live Nation deal filters into his coffers



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