Thursday, September 18th 2008

Jay-Z & Stargate Form Label

With Jay-Z having just finalized his multi-million dollar deal with Live Nation; reports are circulating that the rapper has formed a new record label with hit-makers Stargate – the duo behind big hits from the likes of Beyonce, Ne-Yo, Usher, Mary J and more:

Hot on the heels of his deal with Live Nation, which reportedly has the live music promotions giant contributing $5 million each year in overhead for five years, $25 million to finance Jay-Z’s external acquisitions and investments, plus $10 million per album for a minimum of three albums within the deal’s term, as well as aanother $20 million for other rights including publishing and licensing, Jay-Z is reportedly in the process of starting a new joint venture project with Norwegian based production crew Stargate.

The Stargate team of Tor Erik Hermansen and Mikkel S. Eriksen will join Jay-Z in the formation of the StarRoc record label imprint. {Source}

There really is no stopping Jay these days, is there? With Stargate on board, it’ll be interesting to see what the label will deliver in terms of artists and overall sound.

Any thoughts?