Jay-Z Reportedly Eyeing $20 Million Deal With Samsung
If the New York Post's network of sources is to be believed, Jay-Z may be lining up a deal with Samsung Mobile that would be worth $20 million.
Jay has been making headlines for a number of business deals in the past few months, having helped open the new Barclays Center in Brooklyn, then selling his minority stake in the Brooklyn Nets in order to steer his Roc Nation management company into the realm of sports representation, with the Yankees' Robinson Cano his first signing.
The Post's source was quoted as saying that Jay was interested in creating a "new music-streaming service to promote his acts and music on mobile devices." Samsung launched its Music Hub last August, which operated as a catch-all of a number of different mobile listening services, offering cloud storage, scan-and-match technology, a digital download store, and Internet Radio. The company also doubled its Music Hub staff in March, reportedly to double down on its status as a media platform in the mobile sphere, according to Billboard.
Requests for comment were not returned as of press time.