NEW YORK (CelebrityAccess MediaWire) — Live Nation is reportedly on the verge of making another major deal, this time to acquire Madonna's merchandising firm, Signature Network.
According to the New York Post, LN is going to shell out a cool $50 million for the licensing and marketing company, which reps more than 125 artists, including Kayne, U2 and The Boss.
Sources also reported that Signature is looking to expand past tour merch deals and provide entertainers with soup to nuts rights packages that include everything from tour merch to other products such as fragrances and clothes lines.
Live Nation has been on a buying spree lately, apparently trying to sew up just about every potential tour-related revenue stream. Recent acquisitions have included concert t-shirt manufacturer Trunk, fanclub tix service MusicToday and Ant Hill Trading, a tour merchandising company.
They have also snapped up the remaining 50 percent of artist website operator UltraStar, which runs official websites for bands like The Police and The Chili Peppers, the Post reported. – CelebrityAccess Staff Writers