May 12 (UPI) -- Rapper Shawn "Jay Z" Carter and Live Nation have announced an exclusive touring partnership that will keep them in business together for at least 10 more years.
The agreement continues the music mogul's longstanding partnership with the entertainment company, which means Live Nation will produce and promote Jay Z's concerts for the foreseeable future.
"Live Nation and I entered unchartered territory in 2008. Over nine years, we have traveled the world producing historic music experiences. Michael Rapino is an industry visionary, and this renewed partnership is a testament to our longstanding relationship and the talented individuals at Live Nation. For the next 10 years, we will continue redefining the live-event landscape," the musician said in a statement Thursday.
"Jay Z is one of the world's preeminent touring artists," added Michael Rapino, president and chief executive officer of Live Nation Entertainment. "This strengthens the creative and business partnership of someone that continues to expand his touring base and reach."
