The $150 million Jay Z deal with Live National is almost coming to an end. This will enable the reputable rapper to take up his share at Roc Nation. Jay Z signed the 10-year contract with Live Nation back in 2008. Live Nation purchased Jay Z’s copyright and recorded music for a period of ten years. Jay Z and Live Nation will either sell their Roc Nation stake to the other or buy it. Live Nation will be leaving the recorded music business but might still work with Jay Z although their deal has neither been extended nor renewed. Live Nation wants to continue with their touring deal with the rapper.
Roc Nation boasts having several talented and successful musicians including Rihanna, Fat Joe, Shakira and Meek Mill not forgetting Jay Z. Jay Z and his Roc Nation counterpart Desiree Perez recently had a meeting with Lucian Grainge, the CEO and Chairman of the Universal Music Group (UMG). UMG could be buying Jay Z’ stakes in Roc Nation. The purchase could give the rapper an opportunity to nurture new artists and boost Tidal, his streaming services which is currently competing with Apple Music as well as Spotify in the industry.
Desiree Perez commonly known as Des Perez is the current Chief Operating Officer of Roc Nation. She has been holding the position since 2009. Being among the executive officers at ROC Nation, Desiree has been involved in labeling operations, publishing, and management operations at the recording studio. She runs the operations of Roc Nation alongside other people and collectively they are referred to as the Hover Circle of Influence. The other people include Jay Brown and Jana Fleischman. Desiree Perez has been a close associate to Jay Z for almost two decades. She is a fearless negotiator and has a history of sealing groundbreaking deals in the music industry. She sealed a deal between Rihanna and Samsung.