Page last updated at 09:46 GMT, Monday, 31 March 2008 10:46 UK

U2 sign 12-year Live Nation deal

U2
The Live Nation deal does not extend to U2's recording and publishing

Irish rockers U2 have signed a 12-year deal with concert promoter Live Nation to handle the band's merchandising, digital and branding rights.

The deal follows the ground-breaking recording and touring contract Madonna signed with the company last year.

U2, however, will continue to release records through Universal Music.

"We've been dating for over 20 years now," said singer Bono. "It's about time we tied the knot." Live Nation has managed U2's tours since 1980.

Financial details of the deal have not been disclosed.

Madonna's deal with Live Nation, which brings to an end to her 25-year relationship with Warner Music, has been reported to be worth $120m (60m) over 10 years.

'Great extension'

"U2 has created some of the greatest rock music of all time," said Live Nation chairman Michael Cohl.

"It has long been our intention to consolidate and extend our relationship."

Madonna
Madonna's deal is reported to be worth $120m over 10 years
Live Nation will continue to manage U2's tours and collaborate with the band on its official website.

"We feel we've got a great website but we want to make it a lot better," said Bono.

"U2 are doing their best work right now, on record and in concert," said the band's manager Paul McGuinness.

"The opportunity to integrate U2 and Live Nation's vision of the future is a great extension of our established business."

With the decline in CD sales across the globe, artists are increasingly looking at so-called "360 degree deals" that combine their recording, publishing and touring revenues.




SEE ALSO
U2 see themselves in 3D concert
21 Jan 08 |  Entertainment
Madonna signs radical record deal
16 Oct 07 |  Entertainment
Madonna 'to leave record label'
12 Oct 07 |  Entertainment

RELATED INTERNET LINKS
The BBC is not responsible for the content of external internet sites


FEATURES, VIEWS, ANALYSIS
Has China's housing bubble burst?
How the world's oldest clove tree defied an empire
Why Royal Ballet principal Sergei Polunin quit

BBC navigation

BBC © 2013 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.

Americas Africa Europe Middle East South Asia Asia Pacific