Pop diva Madonna is all set to part away from her longtime record company, Warner Music Group Corp. This move comes for the first time in her singing career as she wishes to cash on more money and fame by other contract that has been offered to her by Live Nation Inc.
It is expected that Material Girl Madonna (the most earning female singer according to Forbes Magazine) will be paid $120 million for ten-year agreement. Madonna would be allowing the concert promotional giants, Live Nation Inc the rights to sell her three studio albums, promote concert tours, sell merchandise and license her name.
Madonna is soon expected to sign the deal with Live Nation Inc and it comes because recently Warner Music Group Corp had refused to match her proposed deal.
Madonna began her singing career in 1982 with a label belonging to Warner Bros. Records and was paid $5,000 per song. She is due to finish her contract with Warner Group by giving one studio album and a greatest hits record.
Live Nation is a live events company based in Beverly Hills, California and promotes and produces music shows, theatrical performances and other live events worldwide. Madonna’s move to join Live Nation is foreseen as a major landmark in the recording industry.
Source:Usatoday
