(AllHipHop News) Jay-Z is reportedly gearing up to boost his already bulging bank balance by signing a new $10 million deal with Sony.
According to Britain’s The Sun newspaper, the rapper has been in discussions with Sony/ATV Music Publishing CEO Jon Platt, and has agreed to a new deal which will see the label manage all the songs he has written to date.
“Sony has had its eye on Jay for a while and they have reached a deal which allows them to manage the songs he has written in exchange for one of the biggest advances in publishing history,” a source told the publication. “This helps him extend his lead as one of the wealthiest artists in the business.”
Jay has previously spoken highly of Platt, who oversaw a similar deal with the mogul’s wife Beyonce in January, calling him his “brother” and the “Obama of the music industry.”