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Jay-Z and Live Nation Near $150 Deal, New Record Label

April 3, 2008 10:30 AM ET

Jay-Z is reportedly on the verge of inking a new $150 million deal with concert promotion giant Live Nation. The deal will encompass all of Jay's concerts, endorsements and recordings over the next decade, as well as provide the rapper a platform to launch Roc Nation, Jay's own label, music publishing and talent managing company. Jay-Z, who previously served as Def Jam's CEO for three years until he and Universal Music Group couldn't agree to a new contract, still owes his former label one more album, set for release later this year. The Brooklyn rapper becomes the third powerhouse veteran artist to join forces with Live Nation since October, as both Madonna and U2 have signed on with the ever-expanding empire.

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U2 Signs Deal With Live Nation
Madonna Deal Done: Material Mom Signs With Live Nation

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Song Stories

“Nightshift”

The Commodores | 1984

The year after soul legends Marvin Gaye and Jackie Wilson died, songwriter Dennis Lambert asked members of the Commodores to give him a tape of ideas. "And the one from Walter Orange has this wonderful bass line," said co-writer Franne Golde. "Plus the lyric, 'Marvin, he was a friend of mine' ... Within 10 minutes, we had decided it should be something like a modern R&B version of 'Rock 'n' Roll Heaven,' and I just said, 'Nightshift.'" This tribute to the recently deceased musicians was the band's only hit without Lionel Richie, who had left for a solo career.

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