EON

Boston (EON) – Madonna is very close to leaving her longtime record label Warner Brothers Records for a lucrative deal worth around $120 million with Live Nation.

Live Nation is a major concert promoter which is willing to put out more than $100 million or so for Madonna to release three albums and have exclusive rights to promote her concerts and market her merchandise in the partnership.

Madonna is following the trend of many other artists and breaking away from the music industry’s traditional structure of having a record label to put out albums and such.

Basically Madonna is going for a deal which will end up garnering her a great deal of money as long as she keeps doing live concerts on a regular basis. The deal includes cash and stock and would pay her half upfront.

With CD sales going down the tubes and nowhere where they used to be years ago many other artists such as Radiohead and Oasis are going the route of breaking away from music labels to try and garner more money from concerts and such. Madonna may be the biggest depature from the music industry norm yet and could send a shockwave if it turns out successful.