Jay-Z has been pretty busy over the past few weeks. He launched Roc Nation Sports and signed two of sports' largest stars, released the tracklist for 'The Great Gatsby' soundtrack -- which he executive produced -- and announced the return of his 'Made in America' festival. And let's not forget his anniversary trip to Cuba with wifey, Beyonce. With all these announcements, we're not surprised that he's come up with another big project.

Roc Nation and Universal Music Group are entering into a multi-year, worldwide partnership where Jay-Z's record label will work as its own entity but within the UMG group.

"We are looking forward to working with Lucian [Grainge, Chairman and CEO of UMG] and the incredible team he’s assembled at Universal. We would like to applaud Lucian for collaborating with us to strike a new age deal. This agreement presents a unique opportunity for Roc Nation’s artists -- being able to continue to operate as an independent label with the strength, power and reach of the best major. I look forward to a long and prosperous collaboration with UMG. It feels good to be home," Jay-Z said in a statement.

While no numbers were released, this new partnership will mean that all new albums that Jay-Z, Rihanna, J. Cole, Rita Ora and others will release through UMG worldwide. Not only does this news show Jay-Z's business know-how (which was questioned last week), but it will also mean more dollar signs for this hip-hop entrepreneur.

Watch Jay-Z's 'Big Pimpin'' Feat. UGK