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Live Nation In negotiations to buy management companies of U2, Madonna

Live Nation is negotiating to buy the management companies behind U2 and Madonna, according to the New York Times, citing people with direct knowledge of the deals.

Live Nation would reportedly pay more than $30 million for both Principle Management and Maverick. Principle is the company of longtime U2 manager Paul McGuinness and Madonna manager Guy Oseary runs Maverick. In an unexpected shift, Oseary would take over the day to day management of U2 and McGuinness would become the chairman of Principle, the Times Reports. The latter’s role was not fully clear.

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