I’m guessing Jay didn’t get that $300 million he wanted from Live Nation. After launching Roc Nation Sports last week, Jay and his entertainment company returned home of sorts (Roc-A-Fella, during its Def Jam run, was under the Universal umbrella), signing a “multi-year, worldwide partnership” with Universal Music Group. Meaning, all albums under the Roc (from Jay-Z, to Rihanna, to J. Cole and everyone in between) will now drop through UMG. Says Shawn:
“We are looking forward to working with Lucian [Grainge, Chairman and CEO of UMG] and the incredible team he’s assembled at Universal. We would like to applaud Lucian for collaborating with us to strike a new age deal. This agreement presents a unique opportunity for Roc Nation’s artists-being able to continue to operate as an independent label with the strength, power and reach of the best major. I look forward to a long and prosperous collaboration with UMG. It feels good to be home.”
Roc Nation already has a “worldwide publishing administration” deal with Warner.