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18 October 2007, 17:21

Madonna drops Warner

Maddona announced that she ends her 25 year long relationship with the Warner recording company. Instead she intends to sign a 10 year contract with Live Nation Inc. a concert touring company. This new $120m deal will include touring, merchandise and releasing of 3 new albums.

"The paradigm in the music business has shifted and as an artist and a businesswoman, I have to move with that shift," Madonna said in a statement. "For the first time in my career, the way that my music can reach fans is unlimited ... Who knows how my albums will be distributed in the future?"

However, Warner will publish one more album by Madonna within a year and will retain all the recording and publishing rights to such hits as Like a Virgin, Vogue and Music. The rights to Material Girl though are under question.

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Entry tags: Warner 9, music industry change 20, Madonna 1

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