Despite the implosion of the recorded-music industry, the decline of the concert business, and widespread criticism over the apparent stupidity of deals exactly like this, Live Nation announced today that it's signed the dapper gentlemen of Nickelback to a long-term, all-encompassing 360 deal worth as much as $70 million, covering their albums, tours, licensing, and merchandise (previous LN signees have included Shakira, Jay-Z, Madonna, and U2, who signed a much smaller, less-inclusive deal). As with Jay-Z's signing, though, Nickelback still owe two albums to their old label, Roadrunner Records, so the soonest they could possibly release one through Live Nation is 2011, long after all of the still-remaining record stores are expected to close and sink into the ocean. Still, the deal will likely be a good one for the concert promoter; Nickelback's 2007 tour grossed an astounding $60.7 million, probably owing in large part to blog hype and the band's effortless onstage charisma.
Nickelback Signs Up With Live Nation [NYT]
Nickelback latest to join Live Nation in global deal [Reuters via Idolator]