Jay-Z to join Madonna’s ‘label’ in $150million deal

Rapper set to sign 'one of the biggest music contracts ever'

Jay-Z is set to sign a $150 million contract with concert promoter LiveNation, a deal similar to those already signed by Madonna and U2.

The deal will see LiveNation presiding over all Jay-Z‘s music affairs, including merchandising and live shows, as opposed to simply recorded music.

Jay-Z is set to leave his current label, Def Jam, after he delivers the final studio album he owes them, reports the New York Times.

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The rapper’s new LiveNation deal will see the company helping to finance Jay-Z‘s business interests, taking a share in profits as part of an ‘umbrella deal’.

Jay-Z will receive an initial payment of $25 million as part of the deal.

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