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Jay-Z's Roc Nation Partners With Universal Music

The Associated Press, Tuesday, April 9, 2013, 5:00am (PDT)

The Hollywood Reporter -- “Jay-Z is back home.”

So touted an email announcing a new global partnership between Roc Nation, the full-service entertainment company founded by the rapper-turned-mogul, and Universal Music Group. Previously aligned with Sony Music, the multi-year deal is effective immediately.

Although financial terms were not disclosed, a release revealed that the Roc Nation music label will operate as a standalone label within the UMG family. As part of the agreement, forthcoming albums from Jay-Z, Rihanna and others will be sold worldwide via UMG.

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Said UMG chairman and CEO Lucian Grainge, who in February was named Billboard's most powerful person in music: “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.”

Jay-Z praised the executive for orchestrating “a new age deal -- being able to continue to operate as an independent label with the strength, power and reach of the best major. ... It feels good to be home.”

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The rapper also recently announced a new partnership with CAA Sports, management company Roc Nation sports, which will represent athletes. Its first signing: the Yankees' Robinson Cano. Recent additions to Roc Nation's music management roster include Kylie Minogue, Timbaland and M.I.A.

Universal Music Group is a fully owned subsidiary of Vivendi. Shares of the company were down a tenth of a percent to 16.21 EUR in early morning trading.

Twitter: @THRMusic

Related article on THR.com:

Jay-Z and Beyonce's Cuba Trip Has Congress Members Angry and the Government Investigating

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Find more online: THR.com

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