The Zomba bit of Sony Music US has entered into a joint venture arrangement with Mickey 'MeMpHiTz' Wright which will see the major take a stake in his Hitz Committee Entertainment company, which in turn aims to become a 360 degree operation working in recordings, music production, publishing, artist and producer management and TV/film projects.
Wright is already an A&R VP for Zomba's Jive label, and the two companies have collaborated on certain artists in the past, though the new deal sees Zomba take a much bigger interest in the Hitz company - offering investment in return for a 50% cut of profits.
Ivan Gavin of Sony's BMG Label Group, of which Zomba is part, told reporters last week: "It was one of the easier decisions to make. Wright is very talented. He wants to build a brand in a broad entertainment sense and didn't want to be pigeonholed. It came down to, 'Do we believe in him and back him or do we let him go elsewhere?' So, we went back to him with a 360 type deal".
Confirming the new deal, Wright added: "This is like a Jay-Z/Live Nation type of deal. Last time, I had to let Jive hear any artist I found first, but now I can sign them to Jive or to Hitz. This is a full partnership with Jive".
Wright has worked with a number of mainly Southern US hip hop artists, both for Hitz and Jive, enjoying most success of late with T-Pain.