The New York Times reports that Jay-Z is planning to sign with Live Nation for a package covering his albums, tours, and his own entertainment venture worth $150 million benjamins. Live Nation has signed similar deals with Madonna and U2, but this is the most comprehensive and most lucrative. The NYT says Live Nation "has angled to compete directly with the industry's established music labels in a scrum over the rights to distribute recordings, sell concert tickets, market merchandise and control other aspects of artists' careers." Jay's first venture for Live Nation is his current 28-city tour with Mary J. Blige.
Submit your Newswire tips here.