Live events company Live Nation has signed a 12-year deal with Irish rock band U2 which will cover the group's touring around the world, their official website, and merchandise.
However, Live Nation will not have publishing rights and Universal Music will keep the rights to the band's music. In financial terms, the deal is probably comparable to the deal that was recently closed with another huge entertainer in business – Madonna's $120 million for a 10-year contract.
U2 are currently in the studio with hopes to finish a new record sometime this fall, with a tour to follow in 2009.
