Jay-Z's Cash Cow
Jay-Z has been lured away from his long-standing relationship with Def Jam by cold, hard cash - $150 million dollars worth, to be precise.
The rapper/entrepreneur confirmed this week that he was leaving the label to sign on with touring giant, Live Nation, home to Madonna, U2 and Shakira .
Talking to RapRadar.com, Jay-Z (aka Sean Carter) considered his time with Def Jam as a “unique and fulfilling experience". He served as the label's president for a three-year stretch, from 2004 to 2007, and was responsible for signing Rihanna and Ne-Yo. He also had a long-standing deal in place between Def Jam and his own record label, Roc-A-Fella.
Jay Z took the job at Def Jam after 'retiring' from performing. It obviously didn't take because he came back with a new album in 2007, and then followed it up with the 'American Gangster' LP in 2008.
Live Nation is the largest touring company in the US and has recently branched out into publishing and releasing music. Flushed with cash, the company has been snapping up big name artists in recent years. Obviously the (rumoured) $150 contract they offered Jay Z was too hard to resist.