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U2 Sign Live Nation Deal for $20 Million in Stock, Magic Beans

Swoon's Untitled (2008).

After months of speculation, world-saving pop-rock combo U2 have signed a $19 million deal with concert promoter Live Nation to include the band's touring, merchandise, and subscription-based Website for the next dozen years. Unlike previous similar deals with Shakira and Nickelback, this one won't cover music publishing or albums, since the band is still signed with Interscope and probably because recorded music isn't worth anything these days anyway. Weirdly, the typically business-savvy U2 have agreed to take their advance in 1.56 million shares of Live Nation stock (currently trading at about $11 per share, down from a high of nearly $25 last February), which is even more baffling than that time they toured with that huge neon lemon.

U2 gets Live Nation stock payday [Billboard]

Photo: Getty Images