U2 have signed a new 12-year contract with Madonna‘s ‘record label’ Live Nation, for an undisclosed fee.
The concert promoters recently signed a ground-breaking touring and recording contract with Madonna, however U2 have not signed away any of their recording rights, which will stay with their long term company Universal.
U2’s deal with Live Nation will cover exclusive rights to produce the band’s tours, manufacture and sell its merchandise, license its image and run its website and fan club.
“U2 has created some of the greatest rock music of all time,” added Live Nation chairman Michael Cohl. “It has long been our intention to consolidate and extend our relationship.”
“We’ve been dating for over 20 years now,” singer Bono told BBC News. “It’s about time we tied the knot.”