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Friday, Jun 24, 2022

Universal’s Def Jam Buys Rest of Rapper Jay-Z’s Label for $10 Million

Universal Music’s Island Def Jam bought the other 50 percent of rap label Roc-A- Fella Records it doesn’t already own for $10 million.

The purchase gives Universal control of a label that helped it attain a whopping 28 Grammy nominations, 10 of which came from Roc-A-Fella artist Kanye West. Roc-A-Fella founder and rapper Jay-Z earned three nominations.

Universal, a unit of Paris- based Vivendi Universal SA, had acquired a 50 percent stake in Roc-A- Fella in 1997 for $1.5 million and had the option to buy it outright in the summer of 2005.

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