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Milestone Deal for Madonna

She'll leave record company for concert giant Live Nation

By Will McCahill,  Newser Staff

Posted Oct 10, 2007 7:10 PM CDT
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(Newser) – Madonna is set to leave traditional record labels behind for an all-encompassing deal with concert promoter Live Nation, the Wall Street Journal reports. The Material Girl will bank $120 million; Live Nation gets three studio albums, the right to promote her concert tours, and various merchandising opportunities during a 10-year deal that seems certain to shake the music industry.

Madonna, 49, is jumping from Warner Bros. Records, though the label still has her on the hook for one more album. With the music industry in upheaval, and artists like Radiohead rejecting them entirely, record companies have been seeking deals of just this kind. That a concert promoter should land an act of Madonna's stature is unprecedented—but by no means without risk.

U.S. singer Madonna performs on stage during the British leg of the Live Earth concerts at London's Wembley Stadium, Saturday July 7, 2007. This concert is part of a series of events, also taking place in the U.S., Australia, China, Japan, Brazil, South Africa and Antarctica. Live Earth...
U.S. singer Madonna performs on stage during the British leg of the Live Earth concerts at London's Wembley Stadium, Saturday July 7, 2007. This concert is part of a series of events, also taking place...   (Associated Press)
Madonna performs at the Live Earth concert at London's Wimbley Stadium, July 7, 2007. She joins heartland rocker John Mellencamp, the puckish rappers Beastie Boys and premier dance acts Donna Summer and Chic among the nine nominees for the Rock and Roll Hall of Fame, who were announced Friday, Sept....
Madonna performs at the Live Earth concert at London's Wimbley Stadium, July 7, 2007. She joins heartland rocker John Mellencamp, the puckish rappers Beastie Boys and premier dance acts Donna Summer...   (Associated Press)
U.S. singer Madonna performs on stage during the British leg of the Live Earth concerts at London's Wembley Stadium, Saturday July 7, 2007. This concert is part of a series of events, also taking place in the U.S., Australia, China, Japan, Brazil, South Africa and Antarctica. Live Earth...
U.S. singer Madonna performs on stage during the British leg of the Live Earth concerts at London's Wembley Stadium, Saturday July 7, 2007. This concert is part of a series of events, also taking place...   (Associated Press)
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