Word on the skreets is Jay bought the rights to that last album he owes Def Jam for 5 mil.
According to HitsDailyDouble’s Rumor Mill:
ONE NATION UNDER JAY-Z: As Roc Nation, Jay-Z’s new home under the Live Nation umbrella, takes shape, the hip-hop superstar has reportedly bought back the last remaining record on his IDJ deal for what some say is a whopping $5 million, raising a number of intriguing questions. How does the album figure into the plans of Roc Nation’s brain trust, which also includes the A&R-savvy Jay Brown and Tata, as well as Jay-Z’s business manager John Menielly? How will it be marketed and distributed? Will Roc Nation employ a traditional distribution channel or take the LP direct to retail? Or alternatively, will the new company make it part of a rumored arrangement inside a major? Every one of the Big Four is reportedly eager to make such a deal. (5/20p)
They also had this little tidbit about the possible direction of Roc Nation, Hovie’s new label venture with Live Nation:
RE-BIRTH OF A NATION: Roc Nation handles a sizable roster of emerging producers and songwriters, who can be plugged into recording projects in various combinations on a full-service basis. According to those in the know, Jay Brown, Roc Nation’s creative mastermind, envisions the company as ultimately bypassing outside entities altogether and doing everything in-house—signing acts, making records and distributing them in whatever way they see fit—a setup modeled on Berry Gordy’s original Motown. (5/20p)
I know what you’re thinking: 5 million is too much. Will Blueprint 3 even earn that much? Well, maybe not in retail sales, but I’m sure he’ll recoup on whatever tour he’s got up his sleeve. And if all else fails, I understand he has a money tree in his back yard.
