”All I Want Is You”
Live Nation Entertainment, the giant concert company that includes Ticketmaster, is in advanced negotiations to buy the management companies behind U2 and Madonna, according to several people with direct knowledge of the talks, the New York Times reports.
If this goes through, the deal will further strengthen Live Nation’s already deep ties with U2 and Madonna, two of the highest-earning and most durable pop acts of the last 30 years. As part of the deal, Live Nation would pay more than $30 million for both Principle Management, the company of U2’s longtime manager, Paul McGuinness, as well as Maverick, run by Guy Oseary, Madonna’s manager, according to these people, who spoke on the condition that they not be named because they were not authorized to discuss the deal publicly.
In what would be one of the most surprising shifts in years among the forces behind pop megastars, Mr. Oseary, 41, would take over the day-to-day management of U2.
Mr. McGuinness, 62, who has managed U2 almost since its inception and would become Principle’s chairman under the new deal, said in a statement:
“I am delighted that Live Nation, who with Arthur Fogel have been our long term touring partners, have joined us in creating this powerful new force in artist management. I have long regarded Guy Oseary as the best manager of his generation and there is no one else I would have considered to take over the day-to-day running of our business.”