Madonna Close To Signing $120m Live Nation Deal

Madonna is reportedly on the verge of leaving her long time home Warner Bros. to sign a huge deal $120 million deal with Live Nation.

The unprecedented deal would see Madonna receive a mixture of money and shares in exchange for the right to release three albums, promote concert tours, sell merchandise and license her name.

According to Billboard the deal is almost done although a spokesman for Live Nation refused to comment on the details.

Madonna has been at Warner Bros since the release of her self titled debut album in 1983 and according to a spokesman for the label she still owes them a studio and live album.

The Wall Street Journal reports that the Live Nation deal will consist of a $17.5m general advance plus $50m - $60m for the three albums.

A further $50m in cash and stock will be paid to promote Madonna’s concert tours.