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Billboard is reporting that Live Nation has closed the 360-degree deal with Jay-Z and he will be getting 775,434 LN shares, plus an option on an additional 500,000 with the exercise price of $13.73. The roughly $150 million pact includes Roc Nation, as well as the rapper’s own recordings and tours for the next 10 years.
It’s a pretty sweet deal if you understand it (these types of things always confuse me a bit). Apparently, over the next five years, LN is going to contribute $5 million each year in overhead which is in addition to the $25 million which will go towards financing Jay-Z’s external acquisitions and investments. But there’s more! He will also get $10 million per album for a minimum of three albums within the deal’s term. Jigga what? That’s a lot of paper!
Live Nation, who is already producing Jay’s current Heart of the City tour, will also be giving Hova another $20 million for other rights including publishing and licensing.
I guess he and his new wife, Beyonce, will be set for life. Jay is definitely a savvy business man and Bey ain’t so bad herself!
Image: used with permission by Newscom