"Hahaha," everyone laughed! Jay-Z, who's last album did not live up to sales expectations, really expected some label to give him $100 million to launch his Carter Music Group? And we were right about that $100 million. Instead, Jay-Z is set to announce a deal with "concert giant" Live Nation worth $150 million, and it included financing for Carter Music Group, plus tours and recordings for the next ten years.

As CD sales plunge, an array of players — including record labels, promoters and advertisers — are racing to secure deals that cut them in on a larger share of an artist’s overall revenue. Live Nation has already struck less comprehensive pacts with Madonna and U2.

Jay's "Heart of the City" tour, currently coming to a stadium near you, is his first time doing business with Live Nation. I guess they liked each other. [NYT]