Madonna to sign $120m Live Nation deal?

Madonna has decided to leave her long-term record label Warner Brothers for a $120 million deal with concert promoters Live Nation, it has been reported.

The singer, who has been with Warner Music since her career started in 1983, would be with Live Nation for ten years under an agreement that she would allow them the rights to three studio albums, promote concerts and sell merchandise under her name.

Live Nation was the promoter behind the worldwide Live 8 events and owns concert venues including Wembley Arena and the Brixton Academy.

The move would mean a huge change for the music industry as it stands, showing that tickets to gigs, sales of merchandise and endorsement deals have become of prime importance for artists.