JAY-Z

Jay-Z Reaches A Multi-Billion Dollar Deal With D’Usse Following Bacardi Lawsuit

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Following a heated lawsuit with Bacardi, Jay-Z has accepted a multi-billion dollar deal with the premium coganc brad regarding D’Usse, which the two have co-owned since 2011. In October, the “Family Feud” rapper sued the liquor company demanding “financial clarity,” TMZ reported. However, according to Complex, after striking this new deal, Jay-Z and his company, SC Liquor, is excited more than ever to renew the partnership.

“Growing D’Usse over the past decade from an idea to one of the fastest-selling spirits in history has been a blessing,” Jay-Z said in a recent statement. “The next phase of this journey will further cement D’Usse’s legacy as one of the world’s most respected brands. I am excited to renew this partnership with Bacardi.”

Prior to the lawsuit, Jay offered to purchase the spirits company for $1.5 billion but was rejected. Despite him asserting that the liquor brand was around $2.5 billion, Bacardi countered with a significantly lower offer of $460 million.

The new agreement required Jay to sell a significant stake in D’Usse. Before this incident, he held 50/50 ownership of the cognac brand with Bacardi, so presumably, Bacardi now owns at least 75 percent of D’Usse.

Complex estimates “that the newly announced acquisition stake was sold at a valuation of at least $3 billion.”

Jay-Z Ends Legal Battle With Bacardi

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One of hip-hop’s most successful businessmen can now rest a little easier at night, if he wasn’t so busy. Jay-Z recently ended his legal battle with Bacardi over their ownership of the D’usse cognac brand. Moreover, the rapper’s lawyers apparently demanded more transparency from the liquor company when it came to handling the cognac brand. Still, the two reached an agreement and Bacardi bought much of Hova’s shares in D’usse, securing a majority interest. Meanwhile, Jay still maintained a “significant ownership stake” as part of this new deal.

NEW YORK, NEW YORK – JULY 07: Jay-Z seen out and about in Manhattan on July 07, 2022 in New York City. (Photo by Robert Kamau/GC Images)

However, the two parties previously shared a 50-50 split of D’usse for over a decade. When the New York legend believed Bacardi mismanaged the company, he sought to buy out D’usse as a whole. Then, Bacardi offered Jay $500 million for his stake, and he asked for $1.5 billion instead. As they couldn’t reach an agreement, the 53-year-old sued the rum magnates for their mishandling of D’usse last year. Also, he filed paperwork to move the suit to the company’s headquarters in Bermuda. After months of litigation, both parties just announced a new deal to reconcile these differences.

“Growing D’usse over the past decade from an idea to one of the fastest-selling spirits in history has been a blessing,” Jay-Z stated via a press release. “The next phase of this journey will further cement D’usse’s legacy as one of the world’s most respected brands. I am excited to renew this partnership with Bacardi.” While they didn’t disclose many terms of the agreement, Bloomberg suggested it cost at least $750 million. “We have deep respect for [Jay-Z’s] creativity and business acumen,” the liquor company stated to Bloomberg. ‘[We] are proud of our accomplishments in establishing D’Usse as a leader in an exciting and competitive category.”

Meanwhile, the “99 Problems” MC remains as successful, sought-out, and impressive on the mic as ever. In fact, Hov fans should be quite excited for his upcoming Grammys performance of “GOD DID” with DJ Khaled. Let us know in the comments what you think about Jay-Z’s business moves with Bacardi down below. Also, as always, come back to HNHH for the latest on Jay-Z and more crossovers in hip-hop and business.

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JAY-Z and Stevie Wonder Confirmed for GRAMMYs Performances

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JAY-Z and Stevie Wonder Confirmed for GRAMMYs Performances

The Grammy Awards go down tomorrow (Feb. 5) and the performance lineup has just received two major boosts. JAY-Z is confirmed for the show, along with music icon Stevie Wonder.

JAY-Z will join Fridayy, John Legend, Lil Wayne, and Rick Ross to perform DJ Khaled’s “GOD DID,” which is nominated for Song fo the Year.

This year, DJ Khaled is nominated for six GRAMMY Awards, including five for “God Did,” including Song Of The Year (“God Did”), Album Of The Year (“God Did”), Best Rap Song (“God Did”), Best Rap Album (“God Did”), Best Rap Performance (“God Did”), and Best Melodic Rap Performance (“Beautiful”).

Stevie Wonder, the 25-time GRAMMY winner will hit the stage performing three classics in the Temptations’ “The Way You Do the Things You Do,” featuring the R&B vocal group WanMore.

Wonder will also perform Smokey Robinson’s “Tears of a Clown” with Robinson himself and will be joined by Chris Stapleton for a special performance of “Higher Ground.”

Additional performances for the night include Steve Lacy, Mary J. Blige, Lizzo, Sam Smith, Bad Bunny, and more.

The post JAY-Z and Stevie Wonder Confirmed for GRAMMYs Performances appeared first on The Source.

The Parents Of Tyre Nichols Lead Heartbreaking Funeral Service

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Tyre Nichols

The Funeral of Tyre Nichols, who was killed due to injuries from a violent arrest by Memphis police, was held on Feb. 1. His surviving family and Vice President Kamala Harris were also in attendance. The funeral for the late 30-year-old Tyre Nichols was held on Feb. 1. Public figures, including Reverend Al Sharpton and […]

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Jay-Z & DJ Khaled To Perform “God Did” At Grammys: Report

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As rumors about his inclusion in this year’s Super Bowl run rampant, we have an update about Jay-Z’s appearance at the Grammys. In Los Angeles, things are heating up as Grammy weekend is upon us. Our favorite artists across all genres have descended on Tinsel Town, and events are firing off across the city. With the ceremony approaching fast, The Hollywood Reporter also offered news about performances. They say Jay and DJ Khaled will be gracing the stage.

Hov and Khaled will reportedly perform their acclaimed hit, “God Did.” The track comes from Khaled’s album of the same name and also hosts features from John Legend, Lil Wayne, Rick Ross, and Fridayy. It was certainly a standout on the record, as Jay’s features are minimal these days. Already, fans are anticipating the epic display that only these superstars can erect.

HOLLYWOOD, CALIFORNIA – APRIL 11: (L-R) Fat Joe, Sean Combs, DJ Khaled and Jay-Z attend the Hollywood Walk of Fame Star Ceremony for DJ Khaled on April 11, 2022 in Hollywood, California. (Photo by Kevin Winter/Getty Images)
Read More: Beyoncé Ties Jay-Z As Most-Nominated Grammy Artist Ever

“God Did” is nominated for three Grammys—Song of the Year, Best Rap Song, and Best Rap Performance. Additionally, Jay-Z also received an Album of the Year nomination for his songwriting on Beyoncé’s No. 1 album, Renaissance. He was also included in the Song of the Year category for co-writing “Break My Soul.”

This year’s Grammys are also set to be a huge tribute to Hip Hop as 2023 marks its 50th anniversary. Questlove is reportedly co-curating a Hip Hop 50th tribute for the ceremony in partnership with Nas’s Mass Appeal. The Roots icon also revealed performers are “some of the biggest names from the genre coming together to celebrate hip-hop history — its past, its present, its future.”

Fans have already begun speculating on the names of who will take to the mic for the epic tribute. Further, it is unclear if Jay and Khaled’s performance is tied to the Hip Hop tribute. Variety reports that other Grammy performers include Harry Styles, Bad Bunny, Mary J. Blige, Brandi Carlile, Luke Combs, Steve Lacy, Lizzo and Sam Smith with Kim Petras. For the Hip Hop tribute, performers are said to also include “Big Boi, Busta Rhymes with Spliff Star, De La Soul, DJ Drama, DJ Jazzy Jeff, Missy Elliott, Future, GloRilla, Grandmaster Flash, Grandmaster Mele Mel & Scorpio/Ethiopian King, Ice-T, Lil Baby, Lil Wayne, The Lox, Method Man, Nelly, Public Enemy, Queen Latifah, Rahiem, Rakim, RUN-DMC, Salt-N-Pepa and Spinderella, Scarface, Swizz Beatz and Too $hort.” Tune in to the Grammys this Sunday, February 5.

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Jermaine Dupri Recalls Introducing Jay-Z To No I.D.

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There are a lot of things that wouldn’t have existed without Jermaine Dupri putting the play together. Apparently, 4:44 is one of those things. During a recent appearance on Rap Radar, the So So Def honcho recalled working alongside Hov around the time of American Gangster, which created the foundation for Jay-Z and No I.D.’s working relationship.

“I actually introduced No I.D. to JAY-Z,” Dupri said. “I took him with me to that session. When I was doing ‘Fallin’,’ I took No I.D. with me. They didn’t even know each other. While I was making that beat, he was in the corner with his headphones on making another beat.”

As he was cooking up, there were several other producers in the room. Jay tried to see what everyone was working on at the time. However, Jermaine Dupri said he directed Jay to No I.D., who he believed would have solid production on deck.

ATLANTA, GA – FEBRUARY 23: Jermain Dupri and Jay-Z attend the So So Def anniversary party hosted by Jay Z at Compound on February 23, 2013 in Atlanta, Georgia. (Photo by Prince Williams/Getty Images)

“Hov was like, ‘What you got?’ He was asking everybody around — there was a bunch of producers in the studio. And I was like, ‘He got some shit. I’m telling you, watch.’ He plugged that shit up, and next thing you know they done made a whole album together!”

It wasn’t the first time Jay-Z and No I.D. worked with each other, though, which JD acknowledged. No I.D. mentored Kanye and later had credits on The Blueprint 2. Still, Jermaine Dupri allowed the two artists to actually get to know each other and work closely together. Jermaine said it was the “first time that they actually got a chance to really connect like that.”

No I.D. had a few placements on American Gangster beyond producing “Fallin’” with JD. He also landed a placement on “Success” alongside Nas. From there, he became a pivotal force in Jay’s career throughout the mid-aughts and the 2010s, eventually leading to the release of 4:44. 

Check the clip out below.

Omega Psi Phi Denounces The 3 Officers Involved In The Brutal Killing Of Tyre Nichols

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Tyre Nichols

The Black Greek fraternity Omega Psi Phi has denounced and rescinded the membership of three of the officers involved in the brutal attack on Tyre Nichols.  The prestigious organization counts among its notable members poet laureate Langston Hughes, Michael Jordan, and civil rights leader Jesse Jackson. While funeral services were underway on Tuesday (1/31)  in […]

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Drake’s OVO Brand Drops NFL-Inspired Collection + Hip-Hop’s Influence On Sports

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Drake OVO x NFL

Drake’s clothing line, OVO has partnered with the NFL to create a new line of merchandise. Rappers have modeled the new apparel for the campaign. The new collection is set to drop on Friday, Feb. 3. OVO x NFL Rap superstar Drake’s Toronto-based label and clothing line, OVO or October’s Very Own, has teamed up […]

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