U2 Net $19 Million in Live Nation Shares In Touring Deal

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U2 are set to receive 1.56 million shares of Live Nation, worth roughly $19 million, as part of the 12-year touring contract the band signed with the concert giant earlier this year. The deal, which was signed in March, includes the band's tours, merchandising and their official website. The contract is not an all-encompassing 360 deal however, as U2 will continue to release music through Universal Music. The deal's value was revealed in a regulatory filing with the Securities and Exchange Commission made last week. While U2 will have to ride the rocky stock market before learning the true value of the contract, the deal could potentially reap billions for Live Nation, as U2's Vertigo tour in 2005-2007 made over $400 million in revenues and was the second highest grossing tour of all time. U2 plan to release their new album early in 2009.

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