Rapper Jay-Z is returning home to Universal Music Group.
The world’s largest music company, led by Lucian Grainge, will house Jay-Z’s recorded music along with a host of artists on his Roc Nation label, including Rihanna.
The music impresario has been shopping the recorded music business for several months; Sony Music Entertainment and Warner Music Group were also in the hunt.
Sources added that former top Warner exec Lyor Cohen, who is trying to launch is own music firm, made an audacious play for Jay-Z as well.
Last month, Warner’s Warner/Chappell publishing arm scored the publishing rights to Jay Z’s works and those of his Roc Nation artists.
Roc Nation will operate as a “standalone label” under the new multi-year deal with Universal. Financial terms weren’t disclosed.
Jay-Z let his last long-term recording contract with Universal’s Def Jam, which produced some of his greatest hits, lapse several years ago. His last album was marketed by Warner label Atlantic.
“This agreement presents a unique opportunity for Roc Nation’s artists—being able to continue to operate as an independent label with the strength, power and reach of the best major,” Jay-Z said in a statement.
“I look forward to a long and prosperous collaboration with UMG. It feels good to be home.”
catkinson@nypost.com