Page Six reports:
Jay-Z is about to ink a hugely lucrative deal with Samsung Mobile, sources tell Page Six. The contract is said to be worth as much as $20 million.
One source said, “The eight-figure deal will be inked in the next few weeks, and is the biggest of its kind. You can speculate that he'll want to develop some kind of new music-streaming service to promote his acts and music on mobile devices.”
After Hot 97's Sunday Summer Jam at MetLife Stadium, Jay-Z and Beyoncé, who's been dashing pregnancy rumors, celebrated by partying at W.i.P. till 3:30 a.m. yesterday with rappers Fabolous, Miguel, Wale, Meek Mill, Busta Rhymes and Omarion, taking over two tables.
Samsung has been quite successful with its Galaxy mobile phones and counts LeBron James as an endorser. A streaming music service would put Jay-Z in competition with Dr. Dre and Jimmy Iovine's forthcoming "Daisy" subscription service.
Seven years ago, Jay-Z starred in an HP computers spot that debuted during the NBA Finals as part of the brand's "The Computer is Personal Again" marketing campaign. It's safe bet to say the cost of doing business with Hova has gone up since then.
It will be interesting to see how this Jay-Z/Galaxy connection will go down.