It was recently reported by industry insiders that Jay-Z, with his groundbreaking deal with Live Nation coming to an end, has been reaching out to many of the music industry’s most powerful people in an effort to secure a new deal. In Jay-Z’s original deal with Samsung, which was reported to be for 10 years, bringing in $150 million for the mogul, a clause was included that would allow for either party to purchase the other’s stake in the company. While Live Nation has been open about their intention to end their deal with Jay-Z in regards to the Roc Nation recorded music catalog, due to the lucrative nature of their touring deal, the fully intend to renew it. According to insiders at Live Nation, the reason for not continuing their recorded music deal with Jay-Z and Roc Nation is due to the fact that they are no longer interested in purchasing stakes in recorded music in general. Outside the Santa Monica, CA, offices of Universal Music Group Chief Executive Officer Sir Lucien Grainge, Jay-Z, alongside his longtime associate, Desiree “Dez” Perez, was spotted. This new development has sparked increased speculation that Jay-Z and Universal Music Group are in the process of working out a deal, particularly because UMG is already partially invested in Roc Nation, albeit in a rather minute capacity. The Roc Nation roster consists of superstars such as Rihanna, Meek Mill, Shakira, and Fat Joe.
Desiree “Dez” Perez is currently the Chief Operating Officer at Roc Nation, helping to oversee many of the company’s most important sectors, including management, labeling, and publishing operations. Desiree Perez has been one of Jay-Z’s closest business associates for over 20 years, helping to guide the trajectory of his career, as well as the artists who call Roc Nation home. While she is one of Roc Nation’s top executives, she is well known throughout the industry for her formidable negotiation skills, recently helping Rihanna to secure a deal with Samsung.