U2 has pulled a Madonna!
The Irish band just signed a 12-year exclusive deal with concert promoter Live Nation.
LN will produce Bono and Co.'s concerts, manufacture and sell their merchandise, license the band's image AND run the U2 website/online fan club. Madonna's big Live Nation deal included all the stuff U2 agreed to PLUS distribution of recorded music and music publishing.
The U2 deal is still in the process of being finalized.
However, based on the Madonna deal, it is estimated that U2 stands to make about $70 million.
U2's most recent tour was the second-highest-grossing concert tour in history, earning $389.4 million at the box office.
Sounds like Live Nation made a pretty good investment to us!
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