Beyonce Calling It Quits To Work With Jay-Z?
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Just two weeks after tying the knot with long-time boyfriend Jay-Z, sources claim Beyonce is already planning her retirement from the music industry.
According to NY Daily News, Beyonce's cousin, Angelica Knowles claims that the current album B is working on will be her last, as she plans to instead work as a talent scout for Jay's new label, The Carter Music Group.
As SOHH previously reported, Jay is said to be embarking on one of the biggest deals in music history, signing an estimated $150 million deal with Live Nation.
As part of the arrangement, Live Nation would finance the start-up of Roc Nation which is expected to include Jay's own label, music publishing, and talent consulting and managing. Live Nation will also contribute an overhead of $5 million a year for five years, with another $25 million available to finance Jay-Z's acquisitions or investments, according to people in the music industry briefed on the agreement.
The landmark deal also includes an upfront payment of $25 million, a general advance of $25 million that includes fees for his current tour, and advance payment of $10 million an album for a minimum of three albums during the deal's 10-year term. A host of additional payments adding up to about $20 million is included in exchange for certain publishing, licensing and other rights.
It is alleged that Beyonce's first protégé for Jay's new label is an R&B artist named Chelsea Thomas.
As of press time, Beyonce's reps could not be reached for comment.
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