U2 Signs Deal With LiveNation

March 31, 2008 9:00 AM ET

In a move sure to have a huge ripple effect in the music industry, worldwide concert promoter LiveNation announced this morning that they have agreed to a twelve year deal with U2. Unlike their contract with Madonna, the U2 deal only includes concert promotion, merchandising and the band's website (U2 album distribution and publishing will still be handled by Universal Music Group, at least for the time being). The contract has not yet officially been signed and no dollar amount was named. Regarding the deal with the concert giant (who have handled most every U2 tour for the past two decades), Bono said "We've been dating for over twenty years now, it's about time we tied the knot."

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