Nas allegedly signs to Def Jam records
Posted on January 23, 2006 by Jamie Slaughter
According to reports from the New York times, legendary rapper Nas, has inked a deal with Def Jam Recordings.
The deal will include a clause where any profit/loss made from the rappers next 2 albums, will be shared between Sony Music and Def Jam.
Def Jam is expected to cover costs involved for production of the albums but both companies will work together to promote the releases, therefore receiving a share of the potential profits.
The agreement will pay Nas in the region of $3 million, including a recording budget, for each of the first two albums, and provides for two additional albums with Def Jam, the sources said. Sony also retains the right to release a Nas greatest hits album, they added.
Nas's next album will be a landmark release, and possibly will include a collaboration from the 2 big NY rappers who have a long history. The new album could be explosive in that respect.
Sony Music, Def Jam and Nas are yet to release a statement, and no initial release dates were indicated.