LOS ANGELES (CelebrityAccess) — Jay Z has renewed his deal with Live Nation that will see the entertainment company continue to handle his touring, as well as a continuation of their joint venture, Roc Nation.
"Live Nation has a new long term deal with Jay Z and we expect to continue being equity partners in Roc Nation for many years to come," a spokesperson for the promoter told Billboard in a statement.
According to the report by Billboard, the terms of the new deal were not disclosed, but the new deal does not appear to be an extension of the music mogul's original 360-deal with Live Nation, but instead covers his touring, and Live Nation's equity stake in Roc Nation.
Jay Z's original $150 million 360-deal in 2008 included his next three albums, publishing and other assets, but since making an initial splash with giant deals, Live Nation has let the recorded side of their deals expire while narrowing their focus to the live side of the industry. – Staff Writers