Madonna 'to leave record label'

Madonna is widely expected to leave her longtime record label and sign a $120m (£59m) recording and touring contract with concert promoter Live Nation.

The pop star, 49, has been with Warner Music for her entire career, stretching back to her 1983 debut album.

The proposed 10-year deal would give Live Nation the rights to distribute albums, promote tours, sell merchandise and license her name.

The deal is expected to be sealed early next week.

The deal would bring to an end her 25-year relationship with Warner, which has led to 200 million records and CD sales.

Falling sales

However, Warner would retain the rights to sell and license Madonna's back catalogue of hits such as Like a Virgin and Music.

Madonna's possible move highlights how falling CD sales are changing the industry landscape.

Traditionally, companies like Warner Music Group have focused on recorded music, while other firms have arranged tours, managed artists and sold merchandise.

But shrinking sales have led artists and entertainment companies to consider wide-ranging deals that bring all activities under one roof, helping cross-promotion and boosting profit margins.

Via bbcnews