On the heels of officially announcing his departure from longtime label home Def Jam, Jay-Z is close to signing a deal that will bring his future recordings to Sony, sources told Billboard.com.

The agreement, which will link Jay-Z's Roc Nation releases with Sony's Epic Records for distribution, "is 95% complete," according to sources close to the negotiations. A formal announcement is expected in the coming weeks.

Just last week, Jay-Z confirmed his split from Def Jam, where he was once president and CEO. The parting of ways from the Universal Music Group-owned label reportedly cost him $5 million, but left him in control of his future master recordings.

Last year, Jay-Z and concert promoter Live Nation struck a wide-ranging deal that included touring, publishing and albums. The roughly $150 million pact includes a partnership in Roc Nation, as well as the rapper's own recordings and tours for the next 10 years.

"He definitely didn't want to...click to continue reading