UMG, Roc Nation Pact

OWNING A PIECE OF THE ROC: As we first hipped you last Thursday (see 4/4 item below), Jay-Z’s Roc Nation has officially entered into a multi-year, worldwide partnership with Universal Music Group to operate as a stand alone label within the UMG family. Financial terms of the deal were not disclosed. As part of the agreement, forthcoming albums from Jay-Z, Rihanna and others will be released through UMG worldwide. Said UMG Chairman/CEO Lucian Grainge: “Not only does this agreement provide a dynamic platform for Roc Nation’s exciting emerging artists, it extends our relationship with the extraordinary Rihanna and represents a homecoming for Jay-Z—a brilliant artist and entrepreneur, who has been a creative cornerstone of our company.” Added Jay-Z: “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. But if he thinks he's getting Nets courtsides, he's sadly mistaken.” (4/8a)

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