Drake has just entered into a multi-faceted deal with Universal Media Group that encompasses recordings, publishing, merchandise, and visual media projects.
UMG, who recently confirmed a similar agreement with the Weeknd, is said to have come to a “Lebron-sized” arrangement with the Certified Lover Boy rapper, who has referenced a large paycheck from the company in multiple tracks.
The deal has been reportedly valued as high as $400 million, although an official number has not been revealed.
Drake was previously signed to Cash Money via the UMG-owned Republic Records and is now officially re-signed to UMG with this new deal.
“Drake is about to get the biggest bag in the history of the music business by far,” said record executive and entrepreneur Steve Stoute. “If Drake goes independent, the music business is over.”
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