Shakira Nears $30 Million Deal With Live Nation

Shakira is taking cues from fellow DIVA, Madonna: she'll forgo standard music-industry convention and issue her records through Live Nation and her former label, Sony.

According to THR sources , the mega-concert promoter is nearing a projected $30 million-deal with Sony to release Shakira's next three albums, thereby giving Live Nation a cut of the profits from sponsorships, merchandising and music recordings.

The companies will divide the sales, with Sony as distributor. The New York Post first reported the news Monday morning.In 2008, Shakira left Sony's Epic label to sign a 10-year deal with Live Nation, numbered at between $70 million and $100 million.

 Last December, Live Nation's chief executive, Michael Rapino, brokered an estimated $30 million deal with Universal Music Group to record and distribute Madonna's new album, 'MDNA'.

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