Jay-Z plans to depart his longtime record label, Def Jam, for a roughly $150 million package

with the concert giant Live Nation that includes financing for his own entertainment venture, in addition to recordings and tours
for the next decade 

. The pact, expected to be finalized this week, is the most expansive deal yet from Live Nation, which has angled to compete directly with the industry’s established music labels in a scrum over the rights to distribute recordings, sell concert tickets, market merchandise and control other aspects of artists’ careers.
As CD sales plunge, an array of players — including record labels, promoters and advertisers — are racing to secure deals that cut them in on a larger share of an artist’s overall revenue. Live Nation has already struck less comprehensive


pacts with
Madonna and
U2.
The overall package for Jay-Z also includes an upfront payment of $25 million

, a general advance of $25 million

that includes fees for his current tour, and advance payment of $10 million an album

for a minimum of three albums during the deal’s 10-year term, these people said. A series of other payments adding up to about $20 million

is included in exchange for certain publishing, licensing and other rights. Jay-Z said Live Nation’s consolidated approach was in sync with the emerging potential “to reach the consumer in so many different ways right now.” He added: “Everyone’s trying to figure it out. I want to be on the front lines in that fight.”