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Jay Z Extends Live Nation Touring Contract In Deal Said To Be Worth $200m

LOS ANGELES (CelebrityAccess) — Shawn 'JAY Z Carter and Live Nation announced the details of the rap mogul's new touring contract with the promoter.

"Live Nation and I entered uncharted territory in 2008. Over 9 years, we have traveled the world producing historic music experiences. Michael Rapino is an industry visionary, and this renewed partnership is a testament to our longstanding relationship and the talented individuals at Live Nation. For the next 10 years, we will continue redefining the live event landscape," stated JAY Z.

"JAY Z is one of the world's preeminent touring artists," added Michael Rapino, president and chief executive officer, Live Nation Entertainment. "This strengthens the creative and business partnership of someone that continues to expand his touring base and reach."

The deal will see Carter continue his exclusive touring arrangement with Live Nation for the next decade in a deal that Variety reported was worth $200 million.

While Carter's musical output has declined in recent years, he is stil an active touring artist. As well, he curates Live Nation's annual Made In America festival, which will take place in Philadelphia over the course of Labor Day weekend. – Staff Writers