Roc Nation is now official. Roc Nation, the new joint venture between Jay-Z and Live Nation, was reported officially signed Wednesday.Roc Nation LLC is part of roughly a $150 million deal that governs Jay-Z’s recordings and tours for the next decade.
The multi structured deal came out due to a Fom 8K filing with the SEC Wednesday as reported by Billboard. Jay Z (through his company Marcy Media) will get 775,434 Live Nation shares, and an option for 500,000 with the exercise price of $13.73.
For moneys, Jay Z will (among other moneys) get $5 million each year for the next five years and $25 million for startup funds and $10 million per album for a minimum 3 album dea.
LALATE recently featured exclusively the Los Angeles official party for the Jay-Z/Mary J. Blige tour. That tour has been a major hit and is produced by Live Nation.