Jay-Z, Live Nation near $150M deal

Jay-Z, Live Nation near $150M deal

LOS ANGELES — Jay-Z is close to reaching a $150 million deal with Live Nation Inc. that will give the concert promoter a stake in virtually every aspect of the rapper and entrepreneur’s career, according to news reports.

The contract covers Jay-Z’s music and music-related businesses for the next 10 years, the New York Times and Wall Street Journal reported on their Web sites late Wednesday, citing sources familiar with the agreement.

As part of the arrangement, Jay-Z would get a $25 million upfront payment, plus advance payments of $10 million per album for a minimum of three albums and $25 million toward concert tours. The company would also pay $20 million in exchange for publishing, licensing and other rights. Live Nation was also expected to commit $50 million to finance Jay-Z’s investments and his entertainment venture, to be called Roc Nation, which is expected to include his own record label, music publishing, talent consulting and managing projects.

Jay-Z, whose real name is Shawn Carter, plans to leave Def Jam for the deal, but he still owes his longtime record label one more studio album. He was president of Def Jam for three years but stepped down in December because he and the label’s corporate parent, Universal Music Group, could not agree on a new contract. Live Nation also struck recent deals with Madonna and U2.

Seinfeld wrecks car, walks away unharmed

EAST HAMPTON, N.Y. — Jerry Seinfeld was in a harrowing rollover wreck but was unhurt after the brakes on one of his vintage cars failed. Seinfeld was driving alone when the brakes on his 1967 Fiat BTM stopped working Saturday evening, East Hampton Town Police Chief Todd Sarris told the New York Post. Seinfeld tried the emergency brake, to no avail, and then swerved to keep the car from careening into an intersection, Sarris said. The two-door sedan flipped over and came to a stop just yards from the highway, Sarris said, adding that the comic’s maneuver “probably avoided a very serious accident.” The wreck was attributed to mechanical failure, and no summonses were issued, Sarris said. Seinfeld, 53, did not require medical attention and returned to his East Hampton home.

Hospital punishes worker in Fawcett privacy case

LOS ANGELES — UCLA Medical Center has disciplined an employee for snooping in Farrah Fawcett’s medical records, the hospital said Wednesday, a few weeks after announcing that several employees were fired for taking peeks at Britney Spears’ files. Fawcett expressed concern to a doctor in May that details of her condition were being leaked to tabloids, and he reported it to hospital executives, UCLA spokeswoman Roxanne Moster said.

Fawcett’s attorney, Kim Swartz, said an employee at the hospital accessed Fawcett’s medical records without authorization, and details about her cancer treatment later showed up in the National Enquirer.

Today’s birthdays

Author-poet Maya Angelou is 80. Actor Craig T. Nelson (“Coach”) is 64. Singer Steve Gatlin of the Gatlin Brothers is 57. Writer-producer David E. Kelley (“Ally McBeal,” “The Practice”) is 52. Actor Robert Downey Jr. is 43. Actress Nancy McKeon is 42. Singer Josh Todd of Buckcherry is 37. Actress Jamie Lynn Spears (“Zoey 101”) is 17.