Talk of Live Nation Madonna deal causing a commotion
If Live Nation is able to pull off a multifaceted deal with Madonna, one that would include a label component as well as the singer’s lucrative touring and merchandising business, it would be the most ambitious undertaking yet under Live Nation CEO Michael Rapino’s watch.
Speculation is rampant that Madonna is considering leaving Warner Bros. once her contract obligations are complete. Arthur Fogel, president of TNA International and chairman of Live Nation’s global touring division, produced Madonna’s last three world tours and is likely at the forefront of any negotiations between Madonna and Live Nation.
One source estimates the value of the Live Nation offer to be $180 million for a 10-year deal, with the touring giant potentially licensing the recording rights for roughly $30 million.
It is believed that Madonna has two more albums due on her contract with Warners. An album of new material is expected in late 2007, to be followed by a greatest hits project.
Sources say Warners has made a counteroffer to Madonna that also includes a touring component that could be helmed by rival promoter AEG Live.
From an article by Ray Waddell, Reuters/Billboard.
Thanks to Vincy.