Word: jay
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...million deal certain to rock what remains of the record industry, Jay-Z has announced plans to depart Def Jam records and give the totality of his creative output - from songs to touring revenue to un-hatched entrepreneurial ideas - to concert promotion behemoth Live Nation. As Jay-Z told the New York Times, which broke the story on its website last night, "I've turned into the Rolling Stones...
...Jay-Z is not the first A-list recording artist to leave a traditional label for a truck full of Live Nation cash. Madonna announced a 10 year, roughly $120 million deal in 2007, while U2 revealed a 12 year touring and merchandising partnership earlier this week. Still, luring Jay-Z is a major coup for the publicly traded Live Nation. He is not only one of the world's top-selling rappers and concert draws, he's a former record company president. "If the [ex] president of Def Jam decides it's time to get off the sinking ship...
...Live Nation is expected to furnish Jay-Z, born Shawn Carter, with $5 million in seed money annually for his own label, publishing arm and management company, with significantly more funds available for future acquisitions and expansion. He will also receive a $25 million upfront payment and $10 million per album for a minimum of three albums over the next decade...
...Given the trajectory of Jay-Z's record sales - 2003's The Black Album sold 3 million copies while 2007's American Gangster barely cracked 1 million - he would have been crazy to turn down the deal. But how sane is Live Nation? Last year the company reported a $12 million loss, and even the most optimistic projections for Jay-Z's sales and entrepreneurship would make it tough for the company to recoup its investment...
...evokes not only the heat of the play’s summer setting, but also the heat of the deep and varied feelings that boil beneath the surface of each man. Initially, eleven of the twelve jurors are sure of the boy’s guilt. Only Juror #8 (Jay D. Musen ’09) is not convinced. With his commitment to the principle of “innocent until proven guilty,” Musen successfully provides the moral force that drives the play forward. His even-tempered conviction only breaks occasionally into anger, frustration, or doubt...