Colombian pop star Shakira to a reported $70-$100 million "360 deal," concert promotion giant Live Nation (NYSE: LYV) announced on Tuesday that it signed a new multi-faceted contract with Canadian rock band Nickelback. Under the deal, financial details of which were not disclosed, Live Nation acquired a vast array of rights for the band, including three touring and album cycles, tour sponsorship, merchandise, VIP/travel packages, secondary ticketing, clothing, licensing, non-tour sponsorship and endorsements, DVD and broadcast rights, fan club, website and literary rights.Previously signed to EMI in Canada and Warner Music/Atlantic/Roadrunner Records in the rest of the world, Nickelback has sold more than 26 million albums worldwide. The band's last tour of North America and Australia, in 2006-2007, sold more than 1.5 million tickets and grossed in excess of $67 million. "This deal with Nickelback will enable us to fully capitalize on our vertically integrated platform to connect the band with their fans, monetizing our unparalleled reach to drive revenues and increase overall margins," said Live Nation CEO Michael Rapino. "This partnership is structured to increase our revenue and cash flow potential significantly, while reducing our risk profile. This investment is cross collateralized, spread over multiple years and comprises multiple business opportunities."
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