Irish rock band U2 signed a 12-year deal with American concert promoter Live Nation.
A statement released by Live Nation on Monday (Mar. 31) said that the promoter would oversee the band's touring, merchandising and development of their website. Hence, the deal does not affect U2's existing recording contract with Universal Music.
Last year, Live Nation was able to come up to terms with Madonna, clinching a 10-year and US$120-million deal with the pop diva.
On the other hand, U2 is one of the most successful rock bands in history. Its albums have won more than 20 Grammy awards and sold more than 140-million copies worldwide.
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