Staff Writer
Jay-Z’s record label Roc Nation has recently purchased
Tupac’s album catalog for a whopping $384 million from Entertainment One who
acquired it from Death Row Records in 2003. Included were all of the masters to
Tupac’s albums and all unreleased material. The deal gives Jay-Z rights to
release all music Tupac created, as well as exclusive rights to any music that
is released which would feature any of Tupac’s songs or lyrics. Joseph Borrino,
CFO of Roc Nation, stated, “This is a phenomenal event for Roc Nation. We’ve
purchased one of Hip-Hop’s greatest icon’s music which would make us one of the
largest record labels in the world.” According to Jay-Z in a released statement
through his CFO , “I’m honored to be the new owner of Tupac’s album catalog. He
is a legend in the music industry and set the standard of hard work when
creating music. I will continue his legacy through Roc Nation and will ensure
that we keep Tupac’s legacy alive. I will also give Tupac’s mother, Afeni Shakur
10% of all gross earnings made from the future sales of Tupac’s albums.”
Jay-Z’s network is now estimated at $2 billion, making
him the wealthiest artist in the hip-hop industry. A new Tupac album is already
on the way as well. The album, titled And
Now I Rise, is slated to release in 2016 and will feature Snoop Dog, Nas,
Drake, DMX, The Dream, Beyoncé, and of course, Jay-Z. The album will be
produced by Dr. Dre and Timbaland.
