Jay-Z says "It feels good to be home," as he moves back into the UMG building, in a multi-year deal.
Jay-Z is back in the UMG building. An announcement was made this morning confirming that Roc Nation has partnered with Universal Music Group in a multi-year deal. The agreement reportedly states that upcoming albums from Jay-Z and Rihanna will be released through the UMG/Roc Nation partnership. Through Def Jam, both artists have long maintained ties to UMG, however Jay-Z had inked a deal with Sony/Columbia Records, where Roc Nation released albums from J. Cole and Rita Ora.
The global deal allows Roc Nation to be a standalone label with UMG Worldwide.
Jay-Z said in a statement, "We are looking forward to working with Lucian and the incredible team he's assembled at Universal. We would like to applaud Lucian for collaborating with us to strike a new age deal. This agreement presents a unique opportunity for Roc Nation's artists—being able to continue to operate as an independent label with the strength, power and reach of the best major. I look forward to a long and prosperous collaboration with UMG. It feels good to be home."
The Brooklyn, New York mogul has recently been photographed in the studio with Timbaland, Rick Ross, DJ Khaled and others. The announcement comes less than a week after Roc Nation acquired the sports representation rights to New York Yankees Second Baseman Robinson Cano.