US concert promotion company Live Nation has signed U2 up to for 12-year deal for merchandising.While U2 will stay with Universal Music, all merchandising, digital and branding rights will now be controlled by Live Nation.

The deal will be global.

Live Nation has managed U2’s world tours for the last 20 years.

Licensing rights, sponsorship opportunities, fan club and web site activity as well as marketing and creative services will be handled now by Live Nation on behalf of the band.

The deal falls short of a similar agreement the company signed with Madonna last year. Under the Madonna deal, the touring company will also release all of Madonna’s new music once her Warner deal runs out after her forthcoming ‘Hard Candy’ album.

Live Nation shares closed at $11.83 on Friday, down from 12 month high of $24.09

by Paul Cashmere, Undercover.com.au

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