Music, New Releases, News
October 23, 2008
The financial details of U2’s mega-deal with Live Nation became public this week after an SEC filing.
• Big Poppa Lou Owes $300 MillionU2 will receive an estimated $19 million (11 million pounds) worth of Live Nation shares as part of a 12-year deal the rock band signed with the concert promotion company earlier this year.
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The agreement between U2 and Live Nation, announced in March, includes worldwide touring, merchandising, and the band’s U2.com Web site. The deal, however, is not a true “360-degree pact” of the sort signed by Madonna, Jay-Z and Shakira, as there is no publishing component and the band retains its relationship with Universal Music to release music. [Reuters UK]
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One Response to “U2: Still Making Money In The Music Industry”
I think it is time to invest in Live Nation, soon as job loss rate goes down a little more and economy picks up more momentum, will have to see…I guess this is the “new” record company??? U2 is smart for retaining relationship with Universal music.