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Nickelback signs with Live Nation

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(FROM REUTERS) ? Canadian rock band Nickelback has become the latest act to sign with concert promoter Live Nation, the company said on Tuesday (July 8). Financial details were not disclosed, but Reuters reports that an industry source familiar with the talks said the three-album/three tour plus merchandising deal was worth between $50 million and $70 million. Nickelback follows in the footsteps of U2, Madonna, and Jay-Z, who all signed monster deals with Live Nation in the past year. Nickelback still has to deliver two more albums for current label, Road Runner, before recording for Live Nation. The band’s last album sold 10 million copies and their last North American and Australian tour in 2006-07 grossed more than $67 million. In addition to touring and recording, the Live Nation deal has the company handling all of the band’s merchandising, licensing, sponsorship, secondary ticketing, endorsements, DVD and broadcast rights, fan club, website, and literary rights. (Reuters)