Jay-Z's Roc Nation Signs "New Age" Deal With Universal
8 April 2013, 16:48
Artists signed to the rapper's label will now have their music distributed by Universal.
Jay-Z's Roc Nation has signed a deal that means it will now operate as part of the Universal Music Group.
The deal for the record label arm of the business will come into effect immediately, meaning future albums from Roc Nation stars including Jay-Z and Rihanna will be released by Universal.
The 'Empire State Of Mind' rapper said Roc Nation was looking forward to coming on board with Universal, which is the biggest record label group in the world, and praised it's Chairman and CEO, Lucian Grange.
"We would like to applaud Lucian for collaborating with us to strike a new age deal," he said.
"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. I look forward to a long and prosperous collaboration with UMG. It feels good to be home."
Rihanna is one of a number of high profile artists signed to Roc Nation:
Lucian Grainge, Chairman and CEO of UMG, said: "In just five years, Roc Nation has established itself as one of the most successful brands in music with a reputation for developing some of today¹s most influential and popular talent.
"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.
"All of us at UMG are thrilled that Jay and Roc Nation chose UMG as their partners, knowing we will support their artists with a level of resources, expertise and passion that is simply unmatched in the industry."
Details of the financial agreement have not been disclosed.