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 At the end of last year, Jay-Z quit his three-year gig as president of Def Jam, which reportedly could’ve yielded him up to $10 million! Four months later, he truly hit the motherload with an astonishing $150 million financing and recording deal with record-label poacher Live Nation, which has also inked deals with Madonna, U2, and Nickelback. Now comes word that the rapper’s going to play top brass again by putting that Live Nation lucre to good use: He’s formed an imprint with StarGate, the Scandanavian production team behind hits by Beyoncé, Chris Brown, Rihanna, and Ne-Yo. The new company, called StarRoc, will sign talent to so-called 360 deals, in which the company will have a stake in an artist’s sales, touring, and merchandising. Meanwhile, the rapper—who’s last two albums underperformed—still owes his old company, Def Jam, one more album: The Blueprint 3, produced in part by Kanye West and Swizz Beatz, which he says may or may not come out this year. Buckle down, Hova! |
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