So, it's official, Shakira is the next major artist to enter into one of those fashionable 360 degree deals with live music conglom Live Nation.
The deal means that when the Columbian megastar has completed her current recording commitments to SonyBMG (one new English language album, a Spanish one and a greatest hits) she will then start working with the live music outfit on all future recording projects. Live Nation Artists will also be involved in her merchandise, online activity, film projects and, of course, touring. The financial specifics of the arrangement have not been disclosed, though US media reports value the deal at anywhere between $70 and $100 million.
Shakira follows Madonna and Jay-Z into signing multi-dimensional deals with Live Nation, deals that will bring to an end their relationships with their respective major record companies, SonyBMG, Warner and Universal.
The live music conglom are expected to sign one more A-list artist to a similar deal this year, with Nickelback currently the favourites, though I'm not sure the bosses at Live Nation Artists have yet seen Universal's latest hit signing in Europe - Mr Gummi Bear - who is surely worth a multi-million pound investment any day of the week (www.youtube.com/watch?v=mB1PuesGGBc).