CEO Michael Rapino is seeking to slow the pace of deal making at concert-promoter-turned-merchandiser Live Nation so he can ascertain that deals already struck are working while chairman Michael Cohl
wants to quickly strike deals with as many as 15 more artists. The company has laid out an estimated $120 million for Madonna and $150 million for Jay-Z alone in return for exclusive rights to release
their recordings, promote their concert tours and sell T-shirts and other merchandise bearing their images.
According to people familiar with the matter, Cohl threatened to leave the
Beverly Hills, Calif.-based Live Nation in recent weeks, but the pair has since resumed speaking to each other. The debate over how far Live Nation can push its strategy remains unresolved.
People close to the company say it hasn't veered from its commitment to the 360 strategy, despite disagreements over how many of the deals to strike. Live Nation has held talks for a similar deal with
South American rocker Shakira, according to several people involved, though no agreement has been reached.
advertisement
advertisement
Read the whole story at The Wall Street Journal »