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Veteran Irish rockers U2 have signed a 12-year deal with concert promoter Live Nation to handle the band’s merchandising, digital and branding rights as well as its touring.
Live Nation announced Monday it had signed a 12-year global contract with the Irish rockers to handle merchandising, digital and branding rights and touring; the foursome will continue to release records through Universal Music.
Financial details of the deal were not disclosed, though one cannot help but remember the exclusive and previously unheard of comprehensive partnership Live Nation secured with the Queen of Pop herself last year.
The concert promoter and Madonna reportedly signed a 10-year, $120 million contract in October, under which Madonna would receive cash and stock and give Live Nation exclusive rights to sell three studio albums, promote concert tours, sell her merchandise and license her name.
This also marks the end of Madonna’s 25-year collaboration with Warner Music.
Of the new deal with the band’s longtime tour manager, singer Bono said: “We’ve been dating for over 20 years now. It’s about time we tied the knot.” Live Nation has been handling U2’s touring since the 1980s, per the BBC.
“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.”
The extended partnership between U2 and Live Nation will also focus on the band’s official website, BBC News reports. “We feel we’ve got a great website but we want to make it a lot better,” said Bono.
Bono, The Edge, Adam Clayton and Larry Mullen, Jr. got together in Dublin in 1976, in what was to become one of the world’s greatest rock bands. The four musicians have also been passionate about touring, with 2005’s Vertigo Tour, their most recent, among the highest-grossing concert tours in history.
The band’s last studio album, 2004’s “How to Dismantle an Atomic Bomb,” earned the musicians eight Grammy Awards, including Album of the Year.
Image Credit: www.u2.com
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