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In 2007, Live Nation signed the superstar to a 10-year deal reportedly worth $100 million — this portion of the commitment is being valued at $40 million, sources tell The Hollywood Reporter.
The Universal Music Group-owned label will release three albums by the Material Girl. Her first single, called “Gimme All Your Luvin,” is due out the last week in January (a demo of the song leaked in early November) just ahead of Madonna’s halftime performance at the Super Bowl on Feb. 5. Two days earlier, the film W.E., which Madonna directed and co-wrote, is scheduled to hit theaters.
The as-yet-untitled album is her first in five years. Madonna had been signed to Warner Bros. since 1982. Van Halen, another Warners act, also recently signed with Interscope, adding to an increasingly healthy stable of rock and pop artists who launched their careers in the 80s, which includes U2. Lady Gaga, who is often compared to Madonna, is also on the Interscope roster.
The multi-faceted “360” deal includes studio albums, touring, merchandising, fan club/website, DVD’s, music-related television and film projects and associated sponsorship agreements.
“We anticipate a very bright future at our new home,” says Madonna’s longtime manager Guy Oseary in a statement issued Dec. 15. Adds Jimmy Iovine, Chairman of Interscope Geffen A&M: “Very rarely does an opportunity like this come around. We would like to thank Madonna, Guy and Live Nation for their belief in us.”
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