07.15
Brooklyn-
Corporate takeover:
Last month… hip-hop mogul Shawn Carter finalized the corporate takeover of Jay-Z Inc… Jay-Z Inc. represents the business ventures built around Jay-Z the hip-hop star. What began with rapping, soon grew to include Rocafella records, Rocawear, and a host of endorsement deals and joint ventures…[Over the years, Carter has successfully used Jay-Z’s influence as a hip-hop star to build a franchise of businesses that capitalize on the rapper’s popularity]…In fact, it was recognizing that influence early on in his career that ultimately lead to the creation of the Rocawear urban-apparel brand.
Last month deal:
To acquire Jay-Z, Live Nation[Nyse:LYV] ponied up a pay package worth $150 million—It’s highest to date. The terms of the deal include $5 million a year for five years to cover overhead for Roc Nation, plus $25 million for any investments or acquisitions. Carter will also receive an initial payment and general advance totaling $50 million, $10 million an album for a minimum of 3 albums, and $20 million for some licensing and publishing rights
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