U2 gets 10 mn pounds in Live Nation deal

October 21st, 2008 - 1:13 pm ICT by IANS  

ColdplayLondon, Oct 21 (IANS) The rock band U2 got 10 million pounds in a deal with Live Nation even before playing a single note.According to thesun.co.uk, the band will most likely tour next year and this could affect the outdoor shows and festivals planned for bands like Oasis, Coldplay and Take That.

U2 have signed a 12 year deal and they could earn 500 million pounds over the course of the contract. Festival organisers are getting nervous.

A source said: “Next summer is shaping up to be one of the best in years in terms of massive event shows. With U2, Coldplay and Oasis all staging gigantic outdoor gigs, it’s going to be a tall order to persuade cash-strapped punters to part with money for traditional festivals.”

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