The Wall Street Journal reports that Jay-Z’s Roc Nation music label has signed a multiyear deal with Universal Music. They also get rights to release Hov’s next album.
Jay-Z said the 5 year deal will allow Roc Nation to “continue to operate as an independent label with the strength, power and reach of the best major.” Universal didn’t disclose the financial terms of the deal.
This marks Jay-Z’s return to Universal as he served as president of Universal’s Island Def Jam Music Group from 2004 until late 2007.
Universal Chief Executive Lucian Grainge said Roc Nation has swiftly become “one of the most successful brands in music with a reputation for developing some of today¹s most influential and popular talent.”