Jay-Z and his New Friends at Live Nation

It seems that this news is probably all over news sites and blogs right now, but just to let you know, Jay-Z is about to leave Def Jam for Live Nation, a company known for its concert productions.

Thanks to these New York Times alerts I get frequently, or whenever they think something important enough is happening, they're getting the information out to the public that the rap star is about to leave Def Jam for a $150 million contract with the "concert giant" and it's a pretty big deal, literally and figuratively.

The NY Times said that Jay-Z is planning on signing on with them later this week for a deal that includes his own music endeavor and his recording and touring for the next 10 years. In doing so, this will mark Live Nation's new explorations in hip-hop, while the company is generally known for its dealings with rock and country music.

Jay-Z's current 28-date tour with Mary J. Blige will mark his first big event with Live Nation. The rapper, who left his post of the president of Def Jam records in December, has one album left with his previous recording label.