The rumored 360 deal between Shakira and megapromoter Live Nation has apparently been signed and sealed. The deal, which will last 10 years and will encompass tours, merch, sponsorship, and recordings, is in effect immediately–except on the recorded-music side, where Shakira still owes Epic three albums (one in English, one in Spanish, and one in “greatest-hits cash-out”-ish). The deal is rumored to be worth somewhere between $70 million and $100 million, which at least sounds reasonable in the context of the other deals the company’s been striking lately. [NYT]
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Related: Roger “Friends In Low Places” Friedman is still flogging the Nickelback 360 story, although this time he wisely decided to not mention any of that band’s song titles.
[www.foxnews.com]
I like how he notes that Warner Music Group’s stock is down, but neglects to mention that Live Nation’s stock is down 8.9% this week.
[finance.google.com]
So if Rapino wasn’t objecting to the Shakira or Nickelback deals, then what touched off the dust up with Cohl I wonder?
@GhostOfDuane: I’d say the deal with grandma Madonna is the point of contention. The stock was valued at about 20, but began to plummet within weeks after signing her. It was an internal sell-off, too. Wow.
Actually, it wasn’t the signing of Madonna, but the size and scope of the deal, in my humble opinion. Also, Hova (size and scope), an impending deal with Motley Crue, which is now supposedly dead. We don’t know the scale of the deal initially offered to Shakira and Nickelback.
@GhostOfDuane: Hey, my comment got eaten. Anyway, I said that I think the point of contention was the size and scope of the deal with grandma Madonna. Before signing the deal with her, LYV stock was valued at about 20. Now, well, you see. It started to plummet just weeks after her deal was announced last October and it was an internal sell-off. Wow. Ouch.
Also, the size and scope of the deal with Hova, an impending, but now dead deal with Motley Crue, the size and scope of what was likely initially offered to Shakira and Nickelback. That’s all in my humble opinion cuz I’m not in the boardroom.
@Maura Johnston: That fahkin guy hates the boyz at WMG–as well he shld–but he’s most unreasonable about it.