Jay-Z On The Verge Of Signing $150 Million Deal

Jay-Z is about to blow the music world up with a $150 million deal with concert promoter Live Nation.

Jay-Z and Live Nation are reported to be on the verge of closing  a $150 million, 10-year deal that would give the concert promoter a financial position in virtually every aspect of Jay-Z's career, according to news reports.

This puts to rest all the speculation that has surrounded Jay since leaving the CEO position at Def Jam.

As part of the partnership, to be called Roc Nation, Live Nation would finance future start-up ventures by Jay-Z, which could include his own label, music publishing, and artist consulting and managing.

Along with future touring, the 10-year deal could include certain publishing and licensing rights. The agreement also calls for Live Nation to pay Jay-Z $25 million upfront, plus advance payments of $10 million per album for a minimum of three albums and $25 million toward concert tours. The company would also pay $20 million in exchange for publishing, licensing and other rights.

This would be Live Nation's third $100 million-plus deal to lock up with a recording artist. The first was for a "concerts plus albums" deal for Madonna, the second for a more conventional "concerts plus website" deal with U2. These deals signal's a major change in the music business.

Jay-Z's first undertaking with Live Nation is his current 28-date tour with Mary J. Blige, his biggest tour in over three years. Next, Live Nation envisions integrating the marketing of all Jay-Z’s entertainment endeavors, including recordings, tours and endorsements.

"I've turned into the Rolling Stones of hip-hop," Jay-Z told the New York Times.

According to Forbes magazine Jay-Z earned $83 million in 2007. His net worth is estimated to be in the $600 million are.

Will Jay-Z be the first hip-hop billionaire?