Well, according to the Wall Street Journal there was some truth in those recent rumours that U2 were considering following Madonna's lead in signing a 360 degree deal with Live Nation, though only in the sense that any deal that includes more than one component of an artist's career is generally called a 360 degree deal these days.
U2's people denied reports that the rumours of Live Nation talks meant they were planning on ending their recording relationship with the Universal Music Group, and that was seemingly true, because the news today, according to the Journal, is that Bono et al have signed a twelve year deal with the live music conglom giving them exclusive rights to produce the band's tours, manufacture and sell its merchandise, license its image and run its website and fan club - but no rights to recordings. Though with that little lot, they probably don't really need recordings anyway.
As much previously reported, Live Nation, traditionally a tour promoter and venue owner, is increasingly moving into other areas of the music business, most notably ticketing, merchandising and fan club management and, through its Madonna contact, recordings. Terms of the U2 deal have not been revealed. Some industry commentators are of the opinion Live Nation is currently overpaying for 360 degree deals with major artists in a bid to get a head start as a major player with interests in all aspects of music.