The ten-year, $150 million deal in 2008 between Jay Z and Live Nation is ending. This may result in a buy-sell situation since either party could buy the company, or sell their stake. According to sources, Jay Z plans to leave the recorded side of music. An insider confirmed the deal is not being extended, and Live Nation no longer buys recorded music. The artists in Roc Nation include Shakira, Meek Mill, Fat Joe, Jay Z, and Rihanna.
Desiree Perez is Jay Z’s top executive at Roc Nation. Her meeting with the CEO and Chairman of the Universal Music Group, Lucian Grainge, led to speculation about UMG purchasing a stake in the company. This would enable Jay Z to develop additional artists. Insiders at UMG say there is already a distribution deal between the company and Roc Nation. If they agreed to a larger investment, UMG would have a bigger stake in the artists at Roc Nation.
According to an insider at UMG, the partnership already holds enough significance. Despite this, it was stated furthering business with Jay Z would be great. The end of the deal with Roc Nation has not yet been discussed at UMG. The reps for Universal, Live Nation, Roc Nation, and Jay Z all failed to comment.
Desiree Perez has served ROC Nation as the Chief Operating Officer since 2009. As one of the members of the team, she is involved in numerous areas including publishing, management, and labeling operations. She negotiated Rihanna’s deal with Samsung, and is considered an extremely tough negotiator. As a woman in a field mainly dominated by men, Desiree Perez has still managed to become successful. She is one of Jay Z’s closest associates, and has been for nearly twenty years. Her track record regarding running SC Enterprises is incredibly long. and Follow him Twitter.com