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Jay-Z Closing In On Record Deal With Epic

The news of Jay-Z’s departure from longtime label Def Jam arrived last week, and according to Billboard.com the rapper is on the brink of signing a record deal with Sony’s Epic Records. According to sources close to the rapper, the deal “is 95% complete” and will link Jay-Z’s Roc Nation released with Epic Records for distribution, although a formal announcement is expected to follow in a few weeks. Jay-Z’s split with the Universal Music-owned Def Jam reportedly came with a $5 million price tag but now the rapper and label exec has full control over his future master recordings. According the Nielsen SoundScan, Jay-Z’s eleven solo albums and collaborations with R. Kelly and Linkin Park have sold over 29 million units.

Last year Jay-Z and Live Nation inked a wide-ranging deal reportedly worth around $150 million that included touring, publishing and albums; the pact includes a partnership in Roc Nation in addition to Jay-Z’s own recordings and tours for the next decade. A UMG source told Billboard.com, “He definitely didn’t want to release his album via Def Jam. And given his close relationship with [Columbia Records Co-Chairman] Rick Rubin, it comes as no surprise he’s make the switch.” Adding fuel to the rumor mill, Sony CEO Howard Stringer and Jay-Z’s Roc Nation partner Jay Brown have meet seen meeting in both Los Angeles and New York; Jay-Z’s wife Beyonce is a Sony Artist on the Columbia Records label; Epic Records president Amanda Ghost is managed by Roc Nation and Brown. If all goes as planned, the rapper’s eleventh studio album, The Blueprint 3, will likely be the first release on Rock Nation distributed by Epic.

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