LOS ANGELES (CelebrityAccess MediaWire) — The New York Post is reporting that Madonna is considering ditching her traditional recording contract with Warner Music Group in favor of an all-encompassing music deal with Live Nation.
The Material Girl’s current contract with Warner is about to expire, and sources point towards negotiations reaching over $100 million with the global touring company.
An agreement with Live Nation could create an entity that would manage all Madonna-related businesses, including albums, touring, merchandise and sponsorships over a multi-year period. Live Nation would acquire an equity stake in the pop star’s overall business, according to the paper.
The joint venture company would then look to enter into an agreement with a label to handle distribution and marketing support of any future Madonna albums.
All related parties refused to comment on the negotiations.
Sources told the paper that Madonna’s camp has also been in talks with other labels about the joint venture concept, which follows in the same vein of deals by EMI with Korn and Robbie Williams.
Madonna is currently in London working with stars such as Justin Timberlake, Pharrell and Timbaland on the follow-up to her hugely successful 2005 album, “Confessions on a Dancefloor.” –by CelebrityAccess Staff Writers