Pop star Madonna has dropped her long-term music label Warner Bros. and signed a multi-album, touring and merhcandising global partnership with Live Nation Inc., the concert touring company said Tuesday.
A spokesman would not say which other stars Live Nation might sign, but he indicated there would be further announcements.
Warner Music congratulated Madonna, with whom it is parting ways after 25 years. But the world's third-largest music company also pointed out that it retains all the recording and publishing rights to all of her music.
In addition, Madonna still has a commitment for one more album with Warner, to be released next year.
The first Madonna album through Live Nation is expected within two to three years, and a tour is likely in the next 24 months.
According to Live Nation, Madonna's last three tours generated close to $ 500 million in the last six years.Live Nation said Atrist Nation would service the Madonna partnership through 80 offices in 18 countries.
Artist nation is headed by Michael Cohl, who is known in the music industry for the Rolling Stones "Steel Wheels" tour in 1989.
Industry watchers had speculated that Madonna would need to sell as many as 15 million albums to recoup Live Nation's advance fees, reported in several papers to be more than $ 50 million.
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