Yesterday news leaked that Jay Z and Live Nation's ten year Roc Nation contract was set to expire and that Live Nation was no longer interested in the recording side of the Roc and would only be focusing on tours [click here if you missed that].
Live Nation confirms the reports...
From Billboard Magazine
"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," the spokesperson told Billboard in a statement.
While terms of the new deal were not disclosed, the new agreement does not appear to be an extension of the current 360 arrangement, and instead mostly covers his touring business.
Jay Z and Live Nation will continue to operate Roc Nation’s management and recorded music business as a joint venture. Live Nation has let many of its 360 recorded-music deals sunset and has largely gotten out of the recorded music business, although through its various joint ventures it does retain some label holdings.
