BreakOUT News

Madge Makes the Announcement

October 16, 2007

Page 1 | Page 2

20071016_madonna_320x240.jpgSo, we all kinda knew this was happening over the last week or so, but today, Madonna and concert promoter Live Nation Inc. announced a deal that will give Live Nation a stake in her albums, tours, merchandising, films and other music-related projects.

Financial terms were not disclosed in the joint statement released by Madonna and Live Nation. A person familiar with the agreement previously told the Associated Press it was worth about $120 million over 10 years.

And that’ll buy you a whole slew of…you get the joke. It’s too tired to make.

Madonna said in a statement that she was drawn to the all-encompassing deal with Live Nation because of the changes the music business has undergone in recent years.

''The paradigm in the music business has shifted and as an artist and a business woman, I have to move with that shift. For the first time in my career, the way that my music can reach my fans is unlimited. I've never wanted to think in a limited way and with this new partnership, the possibilities are endless.''

Also. Lucrative.

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