Irish rockers U2 have reportedly signed a 12 year contract with the concert promoter Live Nation.
The promoting agency will be in charge of handling the ban’s merchandising, digital and branding rights, however the band will remain releasing their albums through Universal Music.
“It’s not a do or die situation that we have to be involved in the recordings,” said Live Nation Chairman Michael Cohl in an interview with Reuters. “We’d prefer to, but it’s not always available.”
“U2 has created some of the greatest rock music of all time,” added Cohl.
“It has long been our intention to consolidate and extend our relationship.”
Financial terms of the deal have not been disclosed, but based on similar deals the agency has made with stars such as Madonna, one can safely bet that U2 are now incredibly much richer than they used to be.
“Our intention is to work with artists who are already making it or on their way to making it,” Cohl concluded.