Shawn "Jay Z" Carter.

Shawn "Jay Z" Carter.

Shawn “Jay Z” Carter and Live Nation have announced an exclusive 10-year touring partnership, continuing the rapper’s longstanding partnership with the world’s biggest live-entertainment company.

The deal includes worldwide touring and will include Live Nation producing and promoting Jay Z concert events.

The partnership was first reported by Variety, which quoted an unnamed source saying it was worth $200 million.

The deal, which Variety compared to Live Nation’s 2007 $120 million deal with Madonna, will keep Jay Z under a touring contract with the company until he is 57 years old.

In a statement, Jay Z said that for the next decade, he and Live Nation “will continue redefining the live event landscape.”

Contact media and entertainment reporter Diane Haithman at dhaithman@labusinessjournal.com. Follow her on Twitter @dhaithman for the latest in L.A. business news.