Madonna to reportedly sign historic $120M record deal
Oct 11, 2007 6:15AM
In Touch Weekly
Madonna has always been groundbreaking and as she gears up to sign a whopping new record deal, worth $120 million, she's charting new territory again. Instead of signing with a traditional record label, Madonna is making her deal with concert promotion firm Live Nation Inc - the first of its kind. The pop icon will receive a mix of cash and stock for allowing the company to distribute three studio albums, promote concert tours, sell merchandise and license her name. Madonna still owes one more record and a greatest hits album to her current label, Warner Bros. + Reprise Records, whom she's leaving because they weren't able to match the big money. Mazel tov, Esther!