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

This is the beginning of the end  

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

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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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