With the ten year deal with Live Nation coming to an end, Jay Z is looking for other big companies in the entertainment industry to take up stake in his record label, the Roc Nation. The one hundred and fifty million dollars deal that is expected to come to an end in 2018 will not be renewed. However, either of the party is expected to sell their stake at Roc Nation or buy the outright of the company. Live Nation is planning to continue touring gigs with the high-profile rapper but wants out of the recorded music side as it is no longer in the business of buying recorded music. More to read on pagesix.com.
Roc Nation has signed big names in the music industry including Jay himself, Rihanna, Fat Joe, Shakira and Meek Mill. With such great names, it will not be hard to land a huge company. Universal Music Group has been speculated to have the intention to buy a stake in the record label. A meeting Jay with his top executive at Roc Nation Desiree Perez had with Sir Lucian Grainge, the chairman, and CEO of UMG was seen to be an indicator of the company’s intention for Roc Nation. In case they strike a deal, Jay Z will get the resources necessary to sign in new artists and boost his business. However, according to an insider, UMG already has a distribution deal with the rapper’s company.
About Desiree Perez
Desiree Perez is the Chief Operating Officer at Roc Nations and a trusted associate of Jay z To read tweets from Dez, visit twitter@desireeperez01/ She plays a significant role at Roc Nation as she is part the team that runs management, publishing and labeling operations divisions. Desiree Perez is said to be tough and fierce when it comes to negotiating. For more of Dez, check this. Dez was able to negotiate Beyoncé’s Formation stadium and helped a big deal in the deal Rihanna signed with Samsung. For Dez recent timeline activities, click crunchbase.com.
Additional reading on http://saltylens.com/tidal-negotiations-lead-by-desiree-perez/