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Live Nation Divided Over Mega Deals

Signers of Madonna, Jay-Z squabble over bold experiment

By Sam Gale Rosen, Newser Staff

Posted Jun 12, 2008 1:39 PM CDT

(Newser) – Two top execs at music giant Live Nation are squabbling over how quickly to move forward with the enormous new deals they've been striking with artists in an attempt to reshape the failing business, the Wall Street Journal reports. The CEO wants to wait and see how current contracts—which give the company exclusive rights over concerts, recordings, and merchandise—pan out; the chairman wants to race ahead and snap up other artists.

Live Nation has given Madonna $120 million and Jay-Z $150 million in recent agreements, known as "360 deals." Chairman Michael Cohl has threatened to leave the company, and has only recently resumed speaking to CEO Michael Rapino. The company's stock has taken a hit, but other industry giants have cautiously begun to follow the model.

Live Nation Inc. CEO Michael Rapino, seen here backstage at a Los Angeles venue in an undated photo provided by Live Nation. (AP Photo)

Madonna has signed a $120 million recording and touring deal with live entertainment promoter Live Nation Inc. (AP Photo/Anthony Harvey, file)

Live Nation and Jay-Z reached a $150 million deal that gives the concert promoter a stake in virtually every aspect of the rapper and entrepreneur's career. (AP Photo)

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Live Nation Divided Over Mega Deals

Signers of Madonna, Jay-Z squabble over bold experiment

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music industry • Madonna • Live Nation • 360 deals • Jay-Z • Michael Rapino • Michael Cohl

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Jay-Z to Sign Record $150M Deal

Live Nation deal sign of industry upheaval

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Conflicting reports leave it unclear where former Def Jam artist will move

Jay-Z, Eminem to Christen Yankee Stadium

Pair to perform at ballpark in September

Top Earners U2 Brought in $109M in 2009

Bruce Springsteen finishes 2nd to Irish superstars, and it's not even close

Feds Tear Into Ticketmaster Merger

Antitrust officials weigh concessions for Live Nation deal to pass

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Live Nation Divided Over Mega Deals

Signers of Madonna, Jay-Z squabble over bold experiment

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OTHER STORIES ON OUR RADAR

music industry • Madonna • Live Nation • 360 deals • Jay-Z • Michael Rapino • Michael Cohl

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

Jay-Z to Sign Record $150M Deal

Live Nation deal sign of industry upheaval

Jay-Z Close to Sony Deal— or Maybe Warner

Conflicting reports leave it unclear where former Def Jam artist will move

Jay-Z, Eminem to Christen Yankee Stadium

Pair to perform at ballpark in September

Top Earners U2 Brought in $109M in 2009

Bruce Springsteen finishes 2nd to Irish superstars, and it's not even close

Feds Tear Into Ticketmaster Merger

Antitrust officials weigh concessions for Live Nation deal to pass

About Us

Site

Newser By Users

Community

Site Maps

Tools

More News

What is Newser?