Post by Tidyman on Jan 24, 2006 22:50:27 GMT -5
HUGE rap news from the New York Times today:
Rap Stars Jay - Z and Nas Reconcile
By THE ASSOCIATED PRESS
Published: January 24, 2006
Filed at 6:16 p.m. ET
NEW YORK (AP) -- Former rap rivals Jay-Z and Nas are now unlikely business partners.
They have reportedly reached an agreement in which Nas would release albums on Def Jam Records, the rap label run by Jay-Z, The New York Times said in Monday's editions, citing music industry executives.
Jay-Z, whose real name is Shawn Carter, stepped in as Def Jam president last year.
According to the newspaper, Sony Music and Def Jam would split the profits from Nas' next two albums. Def Jam would pay for producing and marketing the CDs and would split the profits.
Nas, whose real name is Nasir Jones, would receive about $3 million, including a recording budget for each of the first two albums. The agreement provides for additional albums with Def Jam, the report said.
Sony retains the rights to a Nas greatest hits album, the newspaper said.
Sony representative Tony Ferguson refused to comment Tuesday. A call by The Associated Press to Def Jam representative Jana Fleischman wasn't immediately returned.
Music executives said the deal would be a moneymaker for both labels. Def Jam, a branch of Universal Music Group, has signed Nas to add artistic clout. Sony would share profits from the rapper's next two albums while retaining the possibility of working with him on other projects, including a possible film, the newspaper said.
The New York rappers, who have hurled bitter barbs at one another on past records, ended their public feud in October during a concert at the Continental Airlines Arena in East Rutherford, N.J.[/i]
Rap Stars Jay - Z and Nas Reconcile
By THE ASSOCIATED PRESS
Published: January 24, 2006
Filed at 6:16 p.m. ET
NEW YORK (AP) -- Former rap rivals Jay-Z and Nas are now unlikely business partners.
They have reportedly reached an agreement in which Nas would release albums on Def Jam Records, the rap label run by Jay-Z, The New York Times said in Monday's editions, citing music industry executives.
Jay-Z, whose real name is Shawn Carter, stepped in as Def Jam president last year.
According to the newspaper, Sony Music and Def Jam would split the profits from Nas' next two albums. Def Jam would pay for producing and marketing the CDs and would split the profits.
Nas, whose real name is Nasir Jones, would receive about $3 million, including a recording budget for each of the first two albums. The agreement provides for additional albums with Def Jam, the report said.
Sony retains the rights to a Nas greatest hits album, the newspaper said.
Sony representative Tony Ferguson refused to comment Tuesday. A call by The Associated Press to Def Jam representative Jana Fleischman wasn't immediately returned.
Music executives said the deal would be a moneymaker for both labels. Def Jam, a branch of Universal Music Group, has signed Nas to add artistic clout. Sony would share profits from the rapper's next two albums while retaining the possibility of working with him on other projects, including a possible film, the newspaper said.
The New York rappers, who have hurled bitter barbs at one another on past records, ended their public feud in October during a concert at the Continental Airlines Arena in East Rutherford, N.J.[/i]
