15 October 2007

After 23 years, Madonna to leave Warner Brothers

After 23+ years with Warner Brothers it looks like Madge is packing her shit and heading over to Live Nation with an $18M signing bonus.

Under terms of the proposed deal, the 49-year old Madonna, would receive a the $18M signing bonus and roughly $17 million in advance money for each of three albums with a portion of the compensation in Live Nation stock options.

Madonna could also benefit significantly from the touring component of the deal, which gives Live Nation the exclusive right to promote her tours.

The proposed $120M / 10-year agreement would give Live Nation the rights to sell Madonna merchandise and license her name, and any revenue from such products would be split between Madge and the company.

Live Nation is basically the controversial Clear Channel's baby based out of Beverly Hills. Some suggest CC may've even branded the off-shoot company with its new moniker to avoid the negative connotations of its often maligned media conglomerate parent company.

As of 2 years ago, "Live Nation" owned or operated 117 venues, consisting of 75 US and 42 international venues. These venues include 39 amphitheaters, 58 theaters, 14 clubs, four arenas and two festival sites. In addition, through equity, booking or similar arrangements Live Nation has the right to book events at 33 additional venues.

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