Monday, July 7, 2008

Singer Shakira joins Live Nation

Pop star Shakira has signed a deal with global concert promoter Live Nation, her US spokesman has confirmed. It gives the company rights to all the Columbian singer's music-related projects - including new albums, tours, merchandise, websites and films. The 31-year-old, who has had hits with Hips Don't Lie and Beautiful Liar, follows Madonna, U2 and Jay-Z, who have signed similar deals with the firm. US reports say the deal is worth between $70m and $100m (£35m to £50m).

Shakira still had two studio albums and a greatest hits collection to deliver under her old contract with Sony BMG. Neither Shakira's spokesman nor Live Nation could confirm whether she would still have to fulfil this deal.
However, the touring element and other aspects of the Live Nation agreement will begin immediately. Her signing comes only a few days after Live Nation's chairman, Michael Cohl, stepped down after a dispute over the company's strategy of signing high-profile artists to similar "360-degree" deals. Shakira has sold over 50 million albums worldwide and had four top 10 UK hits. Earlier this year business magazine Forbes listed her as the fourth richest female musician in the world banking $38m (£19.2m) between June 2006 and June 2007. Only Madonna, Barbra Streisand and Celine Dion were ranked ahead of the singer.

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