Call it ironic that this news hits the same day Radiohead's donation-only album became available, but it's been expected for months. Today the Wall Street Journal reported that Madonna is "close to leaving Warner Music Group Corp.'s Warner Bros. Records for a $120 million deal with concert-promotion giant Live Nation Inc." Subscribers can go here. Non-subscribers can read this excerpt.

"The 10-year pact with Live Nation, of Beverly Hills, Calif., would give Madonna a rich mix of cash and stock in exchange for the rights to sell three studio albums, promote concert tours, sell merchandise and license her name. ...

The package includes a general advance of $17.5 million and advance payments for three albums of $50 to $60 million, according to people briefed on the deal.

Live Nation also is expected to pay $50 million in cash and stock for the right to promote her concert tours. If and when she does tour, though, the promoter will only get 10% of the gross, with 90% going to the artist; that is the standard split for music superstars in the concert industry these days. Income from licensing ventures such as the use of Madonna's name on fragrances or other products would be divided evenly with Live Nation."

My thoughts: Yeah, it's a big loss, but more symbolic than not. Not to say it's not a blow to Warner, but her album selling years are well behind her, Warner doesn't get a cut of her touring and it still has her catalog. The two-year-old Confessions on a Dancefloor has moved 1.6 million to date, and 2003's American Life has done less than 700,000 -- not megastar numbers, but labels love bragging rights and would love to have her. At this stage in her career, it's hard to pass up a deal based on touring, licensing and sponsorship dollars. Yeah, another "seismic shift," as people have said lately.

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