Report: Shakira to Sign $30-$60 Million Deal With Live Nation and Sony

Singer can expect huge payout from new recording agreement

May 7, 2012 4:00 PM ET

Shakira performs during the Latin Grammy awards in Las Angeles

Kevin Winter/Getty Images for Latin Recording Academy

Shakira is close to inking a deal with Live Nation and Sony to release her next three albums, according to the New York Post. Shakira's new deal will have the two companies teaming up to release new music together while sharing profits from sponsorships, merchandising and recorded music. Sony is expected to handle distribution.

Reports on the deal's amount vary, with The Hollywood Reporter citing an agreement around $30 million while the Post pegs the amount closer to $60 million.

In 2008, Shakira left Sony for a 10-year deal with Live Nation estimated between $70 million and $100 million. She released her last album, Sale el Sol, in 2010.

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Report: Shakira to Sign $30-$60 Million Deal With Live Nation and Sony