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 ZÂ (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 featuredÂ exclusively theÂ 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.