Madonna is close to leaving her long-time Warner Bros. Records label for a wide-ranging $120 million deal with concert promotion firm Live Nation Inc. The story was first reported on the Wall Street Journal's Web site, which said Madonna would receive a mix of cash and stock in exchange for allowing Live Nation to distribute three studio albums, promote concert tours, sell merchandise and license her name. A Live Nation spokesman declined comment, a source familiar with Warner confirmed the basic details of the report. The paper, quoting people briefed on the Live Nation deal, said the package includes a general advance of $17.5 million and advance payments for three albums of $50 to $60 million. SOURCEThursday, October 11, 2007
$120 Miliion Dollars Woman
Madonna is close to leaving her long-time Warner Bros. Records label for a wide-ranging $120 million deal with concert promotion firm Live Nation Inc. The story was first reported on the Wall Street Journal's Web site, which said Madonna would receive a mix of cash and stock in exchange for allowing Live Nation to distribute three studio albums, promote concert tours, sell merchandise and license her name. A Live Nation spokesman declined comment, a source familiar with Warner confirmed the basic details of the report. The paper, quoting people briefed on the Live Nation deal, said the package includes a general advance of $17.5 million and advance payments for three albums of $50 to $60 million. SOURCE
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