From Yo! PR:
Jay-Z's Roc Nation Buys Block Starz Music
For Immediate Release -- Rapper/entrepreneur Shawn "Jay-Z" Carter continues to expand his $450 million empire with the announcement his Roc Nation, www.rocnation.com, will acquire German-American netlabel Block Starz Music LLC, www.blockstarmusic.com, in a move that has taken industry insiders by surprise.
Mr. Carter, who sold his Rocawear clothing label for $204 million in 2007, signed 10-year $150 million Live Nation deal in 2008 and holds stakes in the New Jersey Nets, 40/40 Club chain, ad firm Translation and various other businesses, reportedly won a bidding war between Universal and Jive Records for the fledgling Block Starz imprint.
While terms of the deal had not been disclosed at press time, the purchase of Block Starz, a full service online music company founded in 2008 to scout, develop, and market new independent talent, culminates a busy month for Jay-Z.
Earlier it was announced that Roc Nation had signed deejay/producer Mick Boogie, singer and songwriter/producer Santi "Santigold" White to its management division. It is unclear in what capacity Block Starz Music will operate under the new business arrangement, but experts speculate it will involve A&R and talent scouting.
Representatives for Jay-Z, who Forbes recently revealed as the second "Wealthiest Artist" in Hip-Hop, were not immediately available for comment.
Download "Was It" featuring Wiz Khalifa
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CONNECT WITH BLOCK STARZ MUSIC
Official: www.blockstarzmusic.com .
Twitter: www.twitter.com/blockstarz .
Facebook: www.facebook.com/blockstarzmusic .
YouTube: www.youtube.com/blockstarzmusic.com .
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Founded in 2008, Yo! Promotions is one of the leading boutique media relations, promotions and marketing firms in the U.S. specializing in the entertainment and urban culture. Since the company's launch, Yo! Promotions has developed a trustworthy reputation for representing up-n-coming, underground and major music acts during the halcyon days of the dot com boom.
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