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U2 Management Bought By Giant Ln According To Ny Times

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http://www.nytimes.com/2013/11/13/business/media/live-nation-said-to-be-near-deal-for-management-companies.html?_r=1&

 

 

NY TIMES

 

November 12, 2013

 
Live Nation Said to Be Near Deal for Management Companies  By BEN SISARIO

 

Live Nation Entertainment, the giant concert company that includes Ticketmaster, is in advanced negotiations to buy the management companies behind U2 and Madonna, according to several people with direct knowledge of the talks.

If the deal is consummated, it will further strengthen Live Nation’s already deep ties with U2 and Madonna, two of the highest-earning and most durable pop acts of the last 30 years. As part of the deal, Live Nation would pay more than $30 million for both Principle Management, the company of U2’s longtime manager, Paul McGuinness, as well as Maverick, run by Guy Oseary, Madonna’s manager, according to these people, who spoke on the condition that they not be named because they were not authorized to discuss the deal publicly.

In what would be one of the most surprising shifts in years among the forces behind pop megastars, Mr. Oseary, 41, would take over the day-to-day management of U2. Mr. McGuinness, 62, who has managed U2 almost since its inception — and in doing so became one of the most highly esteemed executives in the music business — would become Principle’s chairman, with a role that was not fully clear.

A spokeswoman for Live Nation declined to comment, and Mr. Oseary could not be reached Tuesday afternoon.

In a statement, Mr. McGuinness said: “It could be seen as slightly poor etiquette for a manager to consider retiring before his artist has split, quit or died, but U2 have never subscribed to the rock and roll code of conduct. As I approach the musically relevant age of 64 I have resolved to take a less hands-on role as the band embark on the next cycle of their extraordinary career. I am delighted that Live Nation, who with Arthur Fogel have been our long term touring partners, have joined us in creating this powerful new force in artist management. I have long regarded Guy Oseary as the best manager of his generation and there is no one else I would have considered to take over the day-to-day running of our business.”

According to Pollstar, a concert industry trade magazine, the top 10 highest-grossing tours include four by U2 and one by Madonna. U2’s last tour, called 360, had more than $700 million in ticket sales and was seen by nearly seven million people around the world.

Live Nation, which besides its concert promotion and ticketing business manages the careers of some 200 acts through its Artist Nation division, has had close ties with both U2 and Madonna for years. In 2007, it struck a $120 million deal with Madonna that covered touring and recorded music rights for a decade, and it later sold the recording rights to Universal. In 2008, it made a deal with U2 to handle the band’s touring and merchandising exclusively for 12 years.

Along with other arrangements Live Nation made around that time with Jay Z, Shakira and Nickelback, those deals came to symbolize a major change in the music business, as artists looked to concerts, merchandise and myriad other outlets to make up for lost record sales.

 

 

LN in, McGuinness out.

 

Discuss.

Edited by Oswaldo_S
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Thinking U2 as a product is veeeeeeeeeeeeeeeeeery sad for me, very very sad...

I'm not saying you're wrong, unfortunately you are not....it's just my feeling...

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 This part sounds like Yes I did it...

 

It could be seen as slightly poor etiquette for a manager to consider retiring before his artist has split, quit or died, but U2 have never subscribed to the rock and roll code of conduct. As I approach the musically relevant age of 64 I have resolved to take a less hands-on role as the band embark on the next cycle of their extraordinary career. I am delighted that Live Nation, who with Arthur Fogel have been our long term touring partners, have joined us in creating this powerful new force in artist management. I have long regarded Guy Oseary as the best manager of his generation and there is no one else I would have considered to take over the day-to-day running of our business

Edited by monica martino

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I see.

 

 

So fans wanted Eno and Lanois to go away, they did, fans complained.

 

Fans wanted McGuiness to go away. He is. Fans complained and now see doom and gloom.

 

 

Hey! good news out of thsi!! Mcguiness is gone and now everyone who wanted him to retire can be happy! And angry cuz, fans! 

 

ANd now maybe Livenation will ACTUALLY do something with U2's official fansite!

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"...I have resolved to take a less hands-on role..." :o  What Achtung Guy said about being sorry to see him step away.

 

"Fans wanted McGuiness to go away."  Well, that would be 'some' fans. Again, what Achtung Guy said. There was only 1 thing I ever didn't like about Mr. McGuiness, which I won't bother to mention, but overall always loved him.

 

"In what would be one of the most surprising shifts in years among the forces behind pop megastars, Mr. Oseary, 41, would take over the day-to-day management of U2."  That's all we need - the same manager that manages Madonna?!  I see her influence in Miley Cyrus, btw. Not good.

 

Well, U2 is in control of U2. Artistically. And at least that's how we all want it. :)

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Live Nation has had 9 long years to "care" about this website...it's too late...nothing will ever get done here.

 

Meanwhile, membership fees might increase as well as we might see tickets skyrocket to the same level as Madonna's prices.

 

So don't come crying to me if $50 GA's get replaced with $300 reserved seating on the floor.

 

When that happens, I'll just say..."I told you so"...and then it'll be the beginning of the end for sure.

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"Oh Magoo, you've done it again." I'm happy for him. Pleased to see he has OKed, if not chosen, his own replacement given what I perceive as his loyalty and eye on the ball when it comes to the band's interests. Hopefully the new guy is worthy of the job and brings the skills and understanding to deal with the shifting tides and technologies of today's music business.

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This worries me: "The move would see Guy Oseary, Madonna’s manager, take over the day-to-day management of U2 while McGuinness would step back and become the chairman of Principle Management." 

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Thinking U2 as a product is veeeeeeeeeeeeeeeeeery sad for me, very very sad...

I'm not saying you're wrong, unfortunately you are not....it's just my feeling...

 

Monica I agree with you...this is a bad new  :(

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The same news in other words:

 

Paul McGuinness to step down as U2 manager The band will have to continue With or Without Him (sorry).
 
paul-mcguinness-u2-manager-390x285.jpg
Paul McGuinness at U2's Vertigo tour in 2005.
Image: Cathal McNaughto/PA Archive
 

HE HAS LONG been considered the fifth member of the one of the most successful bands in the world, but U2′s manager Paul McGuinness has decided the time has come to Walk On (sorry).

The New York Times reports that McGuinness, who has managed the band since the start of their career more than 30 years ago, is negotiating to sell his company Principle Management to live music behemoth Live Nation and step down as manager.

 

Live Nation is also in negotiations to buy Madonna’s management company at the same time.

The move would see Guy Oseary, Madona’s manager, take over the day-to-day management of U2 while McGuinness would step back and become the chairman of Principle Management.

 

In a statement to the New York Times, McGuinness said the time had come for him to step back from U2.

“It could be seen as slightly poor etiquette for a manager to consider retiring before his artist has split, quit or died, but U2 have never subscribed to the rock ‘n’ roll code of conduct,” he said.

As I approach the musically relevant age of 64 I have resolved to take a less hands-on role as the band embark on the next cycle of their extraordinary career.
I have long regarded Guy Oseary as the best manager of his generation, and there is no one else I would have considered to take over the day-to-day running of our business.

Live Nation, which owns Ticketmaster, has become one of the biggest concert companies in the world. Reports suggest the company is expecting to pay more than $30 million for the two management companies.

 

From: thejournal.ie

 

http://www.thejournal.ie/paul-mcguinness-u2-manager-1172879-Nov2013/

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Welcome to a complete 100% corporate U2,and I'll drop my yellow pants and flash my rosey red arse cheeks if GA tickets are anywhere near the £50 mark next tour,that's if there will ever be GA at a U2 gig ever again.

 

We'll all be in the cheap seats miles away while the posh fuckers rattle their jewellry at the front to quote john lennon.

 

The new rolling stones comes to mind.

Edited by gibbo1968
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and most of all this could be one of the reasons for the delay of the new album....

 

Thinking U2 as a product is veeeeeeeeeeeeeeeeeery sad for me, very very sad...

I'm not saying you're wrong, unfortunately you are not....it's just my feeling...

I think these are the most important and sad news...

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"...I have resolved to take a less hands-on role..." :o  What Achtung Guy said about being sorry to see him step away.

 

"Fans wanted McGuiness to go away."  Well, that would be 'some' fans. Again, what Achtung Guy said. There was only 1 thing I ever didn't like about Mr. McGuiness, which I won't bother to mention, but overall always loved him.

 

"In what would be one of the most surprising shifts in years among the forces behind pop megastars, Mr. Oseary, 41, would take over the day-to-day management of U2."  That's all we need - the same manager that manages Madonna?!  I see her influence in Miley Cyrus, btw. Not good.

 

Well, U2 is in control of U2. Artistically. And at least that's how we all want it. :)

What won't you mention about him??? I'm curious !!!

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It is a sad, sad day, IMO.  U2 got the start they got because of McGuinness.  And I thank him for that, but I think they have needed something fresh for a while. So happy retirement to him.  I didn't want to see him go by way of selling them off to LiveNation though.  I don't think this will gain them any relevance; only dislike for becoming a corporate entity.  I am very scared about the ticket prices now, especially knowing how much Madonna's prices were on her last tour.  If they go that way, I will only get to do one, maybe two shows.  So I'm glad I got to do what I did with my 7 shows on 360, as that will probably never happen again.  My only hope is that as pissed as Larry got with the Vertigo ticket ordeal, that he will not stand for LN price gouging us.

 

You would've thought as much as Bono preaches about it, McGuinness would have kept the business local for Ireland.  But obviously it's more about the money.  :(

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Welcome to a complete 100% corporate U2,and I'll drop my yellow pants and flash my rosey red arse cheeks if GA tickets are anywhere near the £50 mark next tour,that's if there will ever be GA at a U2 gig ever again.

 

We'll all be in the cheap seats miles away while the posh fuckers rattle their jewellry at the front to quote john lennon.

 

The new rolling stones comes to mind.

 

My mate at work paid around £600 to see The Stones at the O2 in London. Less shows, more demand, less overheads, more cash!! 

 

Let's face it, if the bands long awaited new album is crap at least someone else will be taking the financial burden off them as they did with Madonna's last album!

 

We all know they're all skint and living on the breadline and can't afford risks anymore  :D  

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Last night I thought: what a bomb...

 

Well, this is an important day and I'm a bit sad because I really like Paul McGuinness. He had a fundamental role troughout their history with his intelligence and his values and his moves. But I understand how tough his work must be, taking into account the beast of a band that U2 is, and all what each tour involve, etc. I'm sure he chose the suitable moment, before enlisting in the nex tour. And he will be able to enjoy with a little less pressure, and that probably will be really positive for him. And he's not gone, he's the chairman.

 

He gave his vote of confidence to the new manager so I'll gave him mine too... Let's give him a chance :D   ;)

 

I'm not afraid of changes and U2 has an instinct for changes and evolution, isn't it? That's why we are here in 2013 enjoying them. Or what do you think.

 

And U2 is ruled by U2ers in case you don't remember. :lol:

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U2 are the new Rolling Stones, $$$$$$$$$, except U2 makes better music then the Stones at this point.

 

Live Nation took over ticketbastid, that worked out well didn't it.  Live Nation runs this site, that's worked out well too right, it's why I don't subscribe anymore.  Subscription cost will probably go up along with concert ticket prices.

 

Corporations rule nations and now artists.  Sad that rock music originally was anti-establishment, rebellious, etc. and then slowly became establishment big business.  Lou Reed was a true artist who never made his art about the $.

 

I wish Paul well in his well deserved semi-retirement at 64. 

 

When I get older losing my hair,
Many years from now.
Will you still be sending me a valentine
Birthday greetings bottle of wine.

 


If I'd been out till quarter to three
Would you lock the door,
Will you still need me, will you still feed me,
When I'm sixty-four.

You'll be older too,
And if you say the word,
I could stay with you.

I could be handy, mending a fuse
When your lights have gone.
You can knit a sweater by the fireside
Sunday mornings go for a ride.

Doing the garden, digging the weeds,
Who could ask for more.
Will you still need me, will you still feed me,
When I'm sixty-four.

Every summer we can rent a cottage,
In the Isle of Wight, if it's not too dear
We shall scrimp and save
Grandchildren on your knee
Vera, Chuck & Dave

Send me a postcard, drop me a line,
Stating point of view
Indicate precisely what you mean to say
Yours sincerely, wasting away

Give me your answer, fill in a form
Mine for evermore
Will you still need me, will you still feed me,
When I'm sixty-four.
Edited by surrenders
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Hmmm. I really don't see this as a good thing. Obviously P McG can't keep going forever and is entitled to retire as much as anyone else. What I don't like is the buyout by Live Nation of their management. It' like Coca Cola buying a small nation's local and favourite brand of cola. Many years ago Paul McGuinness said he would never allow U2 to accept sponsorship and sell out on their artistic values. Well eventually he changed his mind. He sold his principles. When U2 first started working with Live Nation and their website started being run by them I noticed a slipping of standards and a sellout of principles, a distancing from fans. Their movement of their publishing company to Holland has been very unpopular in Ireland. A friend of mine recently said 'I don't want to hear 'I see seven towers' being sung in Dublin again'. I agree with him. With Principle management now being sold is it a matter of U2 now being principle-less?

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