LOS ANGELES — In a move that reflects the anarchy sweeping the music business, the superstar rapper Jay-Z, who released his latest album to lukewarm sales five months ago, is on the verge of closing a deal with a concert promoter that rivals the biggest music contracts ever awarded.
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Rahav Segev for The New York Times
Jay-Z plans to depart his longtime record label, Def Jam, for a roughly $150 million package with the concert giant Live Nation that includes financing for his own entertainment venture, in addition to recordings and tours for the next decade. The pact, expected to be finalized this week, is the most expansive deal yet from Live Nation, which has angled to compete directly with the industry’s established music labels in a scrum over the rights to distribute recordings, sell concert tickets, market merchandise and control other aspects of artists’ careers.