Washington
(ANI):
Madonna
is
reportedly
about
to
leave
her
long-time
label
Warner
Music
Group
in
favour
of
a
120
million
dollar
deal
with
Live
Nation
Inc.
The
10-year
deal
will
bring
Madge
cash,
stock
options
and
a
one-stop
shop
for
recording,
touring,
licensing
and
merchandizing
deals.
According
to
the
Wall
Street
Journal,
the
Live
Nation
Inc.
deal
also
includes
an
advance
of
17.5
million
dollars,
as
well
as
advance
payments
of
50
to
60
million
dollars
for
three
studio
albums,
reports
E!Online.
Sources
revealed
that
under
the
new
deal,
Madonna
will
get
to
keep
90
percent
of
the
grosses
if
and
when
she
tours
again.
Live
Nation
will
keep
the
remaining
10
percent
going,
and
is
expected
to
shelve
out
50
million
dollars
in
cash
and
stock
for
the
right
to
promote
her
concerts.
Profits
from
products
that
utilize
Madonna's
name
and
image
and
other
licensing
ventures
will
be
split
evenly
between
artist
and
company.
However,
Warner
Music
Group
will
not
be
left
without
anything,
for
it
will
retain
the
rights
to
Madonna's
song
catalog
dating
back
more
than
20
years.
"Warner
has
demonstrated
extremely
savvy
financial
discipline
with
regard
to
the
deals
it
enters
into
and,
as
importantly,
the
deals
it
doesn't
enter
into," E!Online
quoted
Brian
Posner,
chief
executive
of
one
of
Warner's
shareholders,
as
telling
the
Wall
Street
Journal.