After an epic decade of ruling the entertainment industry with his Roc Nation brand, curtains are set to close on Jay-Z’s record label Roc Nation. The deal which cost the rap mogul an estimated $150 million in 2008 has set tongue wagging and threw potential investors into the fray.
According to sources connected to the two partners in the deal, there is a possibility that Roc Nation maybe considering to extend the deal. However, Jay Z is said to be considering an exit from the deal especially in the area that deals with recorded music. The Roc Nation deal involves music side as well as the clothing side. Jay Z is said to be more interested in the fashion deal rather than the music deal. With Jay Z supposedly backing out of the deal, the fate of the artists signed to record label such as Rihanna, Shakira, Meek Mill, and Fat Joe remains unknown.
Speculation has been rife that Jay Z maybe considering to sign a deal with Universal Music Group. This was after Jay Z was spotted leaving the UMG offices based in Santa Monica California together with his executive Desiree Perez. Desiree has always been the deal breaker when it comes to making business deals associated with Roc Nation.
UMG, on its part, has not denied or agreed to the deal. An insider of the company actually believes that a deal with Roc Nation would be good for business based on the friendship that exists between Jay Z and UMG CEO Sir Lucian Grainge. However, the representatives of Roc Nation, Jay Z, and UMG have not commented on the issue.
Desiree Perez is the current CEO of Roc Nation; a position she has held since the year 2009. As the CEO of the company, Perez has been involved in numerous deals that involve Roc Nation and the current artists. For instance, she was involved in securing a Samsung deal for Rihanna.
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