Hip-Hop mogul Jay-Z has reportedly bought out the remainder of his business contract with Def Jam Records, including his unreleased Blueprint 3 album obligation, for roughly $5 million.
ONE NATION UNDER JAY-Z
: As Roc Nation, Jay-Z’s new home under the Live Nation umbrella, takes shape, the hip-hop superstar has reportedly bought back the last remaining record on his IDJ deal for what some say is a whopping $5 million, raising a number of intriguing questions. How does the album figure into the plans of Roc Nation’s brain trust, which also includes the A&R-savvy Jay Brown and Tata, as well as Jay-Z’s business manager John Menielly? How will it be marketed and distributed? Will Roc Nation employ a traditional distribution channel or take the LP direct to retail? Or alternatively, will the new company make it part of a rumored arrangement inside a major? Every one of the Big Four is reportedly eager to make such a deal. (5/20p)