NewYork posts reports Live Nation’s three-album Shakira deal with Sony could be worth as much as $60 million with the two partners agreeing to split sales.
The deal will have the two companies teaming up to release shakira's new albums together while sharing profits from sponsorships, merchandising and recorded music. Sony is expected to handle distribution.
In July 2008, the Colombian songstress left Sony’s Epic label for a 10-year deal with Live Nation valued between $70 million and $100 million. Shakira was among a handful of superstars, including Madonna and Jay-Z, to ditch their traditional record backers and sign huge rights deals with Concert Promoter Live Nation in recent years.
