| Pop star Madonna is ready to leave record label Warner Bros. Records, with which all 24 years of the singer’s previous creative career were associated. According to the online version of the Wall Street Journal, Madonna is close to accepting an unprecedented offer for show business made to her by the American entrepreneurial firm Live Nation Inc. The company promises the singer $120 million in cash and securities for the rights to distribute her next three albums, conduct concert tours, sell Madonna-branded merchandise and license the commercial use of the star's name. The contract is unusual not only in its scope, but also in its “complex” nature.
However, as the Wall Street Journal notes, this pattern of collaboration between artists and record labels may soon become quite common in show business. Faced with competition from music pirates and the Internet, entertainment businesses are moving beyond simply selling CDs or concert tickets to more complex forms of commercializing their collaborating talent. According to the Wall Street Journal, Warner Bros. has not yet lost hope of keeping Madonna for herself, offering her continued cooperation on approximately the same terms as they are seducing her at Live Nation. Based on materials from REUTERS
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