[Live Nation closed the Jay-Z 360-degree deal Wednesday night (April 30), sources say.
The company yesterday (May 1) filed a Form-8K with the SEC which states that the artist is getting 775,434 Live Nation shares, plus an option on an additional 500,000 with the exercise price of $13.73. The shares go to Marcy Media, the company affiliated with Jay-Z (born Shawn Carter), in connection with the formation of Roc Nation LLC, a joint entertainment venture between Live Nation and Jay-Z.
Talk that Live Nation and Jay-Z were on the verge of closing a major deal began last December and broke April 2 in The New York Times. The roughly $150 million pact includes Roc Nation, as well as the rapper's own recordings and tours for the next 10 years.
Live Nation will reportedly contribute $5 million each year in overhead for five years and offer $25 million to finance Jay-Z's external acquisitions and investments, plus $10 million per album for a minimum of three albums within the deal's term. Jay-Z will also receive another $20 million for other rights including publishing and licensing. Live Nation is already producing the current Jay-Z/Mary J. Blige tour, which is putting up sellout numbers.]-BillBoard
And this ladies and gentlemen is an example of maximizing your brand. Mr. Carter has come a long way from pushing cd’s out of the trunk. . . well done. So many glorious business lessons in this deal. Wow.
NEEVVVVV Complacent!!!
If you have a moment Google "Charlie Rose - Jay Z" under the video option. Pretty glorious interview with Jay for an hour! Its not directly related to this article. But im sure your in the mood for some Carter insight. So peep it.
