NME is reporting that Jay-Z is to sign a $150 million contract with concert promoter LiveNation, a deal similar to those already signed by Madonna and U2. The deal will see LiveNation managing Jay-Z's music affairs, including merchandising and live shows, as opposed to simply recorded music. NME reports:

Jay-Z is set to leave his current label, Def Jam, after he delivers the final studio album he owes them, reports the New York Times. The rapper's new LiveNation deal will see the company helping to finance Jay-Z's business interests, taking a share in profits as part of an ‘umbrella deal'.

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