Jay-Z Buys Out Def Jam Contract?

Thursday, May 21st, 2009

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Word on the skreets is Jay bought the rights to that last album he owes Def Jam for 5 mil.

According to HitsDailyDouble’s Rumor Mill:

ONE NATION UNDER JAY-Z: As Roc Nation, Jay-Z’s new home under the Live Nation umbrella, takes shape, the hip-hop superstar has reportedly bought back the last remaining record on his IDJ deal for what some say is a whopping $5 million, raising a number of intriguing questions. How does the album figure into the plans of Roc Nation’s brain trust, which also includes the A&R-savvy Jay Brown and Tata, as well as Jay-Z’s business manager John Menielly? How will it be marketed and distributed? Will Roc Nation employ a traditional distribution channel or take the LP direct to retail? Or alternatively, will the new company make it part of a rumored arrangement inside a major? Every one of the Big Four is reportedly eager to make such a deal. (5/20p)

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