MIA FESTIVAL TO BE MOVED FROM PHILLY’S PARKWAY. JAY-Z & ROC NATION NOT HAPPY ABOUT IT

PHILADELPHIA, PA

The “Made In America” concert and festival which has become an annual huge deal in the city of Philadelphia, is reportedly searching for a new home after this year, according to a statement from Philly Mayor Jim Kenney’s Deputy Communications Director this morning.

“This is the last year MIA (Made In America) will be held on the Parkway.” Com. Director Sarah Reyes said in a statement to the Philadelphia Daily News and Inquirer.

Philly.com (@phillydotcom) reported that this years’ headlining acts are scheduled to be Nicki Minaj, Meek Mill, Post Malone, and Diplo.

The Labor Day Made In America festival has been held on the Ben Franklin Parkway in Philly’s Art Museum District since 2012. The annual event has always attracted huge names in the music industry. Roc Nation’s direct involvement in the festival certainly played a huge part in attracting acts like Rihanna, Kanye West, and the Queen B herself – Beyonce over the years, just to name a few. The festival has certainly brought a boost in economy for nearby businesses over the years with all of the traffic in town for the weekend concert also. So why would the Mayor want to move a concert that has done so many positive things for the city?

Unofficial word on the street is complaints of too much noise and traffic in the area. It’s not set in stone that MIA will not be taking place in Philly next year, but Mayor Kenney’s office made it crystal clear that the concert will not be taking place on the Parkway anymore.

“When the festival first started, it was intended to provide a unique attraction to the city on the otherwise quiet Labor Day weekend. Over the years tourism has grown overall, and the need for an event of this scale at this location may no longer be necessary.” Reyes said in a statement.

Roc Nation seemed to be blindsided by the announcement from the Mayor’s office.

“We are disappointed that the Mayor of Philadelphia would evict us from the heart of the city, through a media outlet, without a sit-down meeting, notice, dialogue, or proper communication. We consider this stance a failure on the Mayor’s part.” Roc Nation founder Jay-Z said in a statement.

It’s not clear if Roc Nation will search for a new location in the city for the festival or leave the city altogether. Hopefully the two sides can come to an agreement of some sort. The MIA concert has become an annual event that many in the city have come to look forward to every year.

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JAY-Z TARGET OF SEC PROBE. SUBPOENA ISSUED AFTER HE REFUSED TO COOPERATE

NEW YORK

 

 

 

The Securities and Exchange Commission (SEC) is seeking a court order for Jay-Z to appear in court and comply with SEC subpoena request to testify on his joint venture with Iconix Brand Inc.

 

 

 

Forbes Magazine (@forbes) reports, Iconix is being investigated by the SEC for potential securities law violations related to its financial reporting. Jay-Z and business partners established Rocawear in 1999 and sold it to Iconix in 2007 for over $200 million in intangible assets. Iconix reduced the value of the assets by $169 million in 2016, and by another $34 million in 2018, claiming the drop was due to “the decline in the demand for streetwear and urban clothing.” The SEC is seeking Jay-Z’s testimony on the deal to investigate inconsistencies in Iconix’s reporting. The SEC issued two subpoenas for his testimony. Jay-Z failed to appear both times. A hearing ordering Jay-Z to show cause for his refusal to comply is set for May 8th.

 

 

 

Jay-Z’s attorneys argue that he should not be involved in the case at all because he had nothing to do with Iconix’s financial reporting. If Jay-Z does not appear in court on May 8th, to successfully explain why he should not have to testify, he will likely be ordered to comply with the subpoenas and appear for testimony on May 11th. If the courts decide to go the extreme route, they can hold jay-Z in civil contempt, and have him locked up until he complies with the subpoenas or proves he is not acting in civil contempt. At the very least, it’s likely that Hov will be hit with some monetary sanctions for his non-compliance.

JAY-Z & BEYONCE OTR TOUR COMING TO PHILLY THIS SUMMER

Philadelphia, PA

 

 

 

Dates for Jay-Z and Beyonce’s OTR 2 tour have been announced. The United Sates leg of the tour will begin this summer. Starting in Cleveland on July 25th. The duo will be making their way down to Lincoln Financial Field in South Philly on the 30th. If you’re reading this it’s probably too late! Just kidding. Pre-sale tickets went on sale March 14th. Tickets will be available for the general public to purchase on Monday March 19th (tomorrow). A quick Google search showed that a ticket will probably cost you in a range from $111 (200 level) to around $2940 (front row VIP). Tickets will probably sell quickly, so chances are, if you don’t get yours in the next few days, you probably won’t be going. Good luck in the ticket search.