Universal Music Group said Monday it had inked a multiyear deal with rapper Shawn “Jay-Z” Carter to house his music label Roc Nation, snagging the coveted rights to release Mr. Carter’s next album along with the forthcoming records of other top-selling artists including Rihanna and Shakira.
Mr. Carter said the deal allowed his five-year-old Roc Nation to “continue to operate as an independent label with the strength, power and reach of the best major.” Universal didn’t disclose the financial terms of the deal.
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