News: Shakira Lines Up $60 Million Deal With Live Nation

Full story below courtesy of [Billboard Biz]

Shakira is taking cues from Madonna and Jay-Z: she’ll forgo standard music-industry convention and issue her records through Live Nation and her former label, Sony, the New York Post reports.
According to the Post, the mega-concert promoter is nearing a projected $60 million-deal with Sony to release Shakira’s next three albums, giving Live Nation a cut of the profits from sponsorships, merchandising and recorded music. The companies will divide the sales, with Sony as distributor; some insiders familiar with the pact peg the number at $60 mill, while others say it’s lower than that.

In 2008, Shakira left Sony’s Epic label to sign a 10-year deal with Live Nation, numbered at between $70 million and $100 million.
Last December, Live Nation’s chief executive, Michael Rapino, brokered an estimated $30 million deal with Universal Music Group to record and distribute Madonna’s new album, MDNA.

Shakira, the multi-platinum songstress behind such hits as “Hips Don’t Lie,” released her latest music video for the single “Addicted to You” last week; in April, she took home four trophies at the Billboard Latin Music Awards in Miami. Among the honors were Song Artist of the Year, Female; Albums Artist of the Year, Female; Latin Pop Songs Artist of the Year, Solo; and Social Artist of the Year.