Bed-Stuy-born Jay-Z is leaving long-time record label Def Jam, and is close to signing a deal that will bring all future recordings to Sony. The deal will link Jay’s Roc Nation to Sony for distribution. The split reportedly came with a $5 million price tag, but will leave him in control of all of his master recordings. His eleven recordings have sold 29 million units in the U.S., according to Soundscan.

Jay struck a deal with Live Nation last year that included touring, publishing and albums. The $150 million deal includes a partnership in Roc Nation, in addition to his own recordings and tours for the next 10 years.

[Source]