Irish rockers U2 have followed in Madonna's footsteps by signing a 12-year deal with music promoters Live Nation.
The agreement will see the band continue to release records through their longtime record label Universal Music, but Live Nation, which has been handling U2's tours since 1980, will take over the group's merchandising as well as digital and branding rights.
The deal follows the ground-breaking recording and touring contract Madonna signed with the firm in 2007, which was rumored to be worth in excess of $120 million over 10 years.
And although financial details of the contract have not been disclosed, frontman Bono insists the deal has been on the cards for a long time.
Bono says, "We've been dating for over 20 years now. It's about time we tied the knot."
And the band's manager, Paul McGuinness, is convinced the Live Nation collaboration is perfect timing.
McGuinness adds, "U2 are doing their best work right now, on record and in concert.
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