After whispers had been reported through many news outlets, the official word has come that Nas has signed to Def Jam.
Nas reportedly owed Sony one album from his previous deal, but managed to negotiate to the point that he is now split between the two labels. Sony also has the right to release a Greatest Hits album.
His new contract is said to be a venture between Sony and Def Jam. The two companies will split profits and any losses from the lyricist's next two recordings. Def Jam is due to pay for the LP's production and marketing, and will share the profits after recovering its expenses. Sony and Def Jam will both supervise the CD's marketing campaigns.
Nas will reportedly earn $3 million in the deal, including a recording budget for his first two Sony/Def Jam releases as well as two succeeding Def Jam albums. Sony will retain the right to drop a Nas greatest hits CD.
In October Of 2005, Jay-Z and Nas ended their long running feud; expect now to see a collaboration.
Nas reportedly owed Sony one album from his previous deal, but managed to negotiate to the point that he is now split between the two labels. Sony also has the right to release a Greatest Hits album.
His new contract is said to be a venture between Sony and Def Jam. The two companies will split profits and any losses from the lyricist's next two recordings. Def Jam is due to pay for the LP's production and marketing, and will share the profits after recovering its expenses. Sony and Def Jam will both supervise the CD's marketing campaigns.
Nas will reportedly earn $3 million in the deal, including a recording budget for his first two Sony/Def Jam releases as well as two succeeding Def Jam albums. Sony will retain the right to drop a Nas greatest hits CD.
In October Of 2005, Jay-Z and Nas ended their long running feud; expect now to see a collaboration.
