Latin pop star Shakira reportedly is set to follow the trail of Madonna and Jay-Z as the latest musician that signs a mega deal with tour promoter Live Nation. According to the latest reports, the Colombian born singer is still in talks with the company but it is expected that the deal would be finalized before the end of the year.
The mega deal, which is being called the 360-degree-deal, according to the New York Post would be worth about $70 million and will give Live Nation the rights to handle the singer's tour, merchandising and recording. Although $70 million is a huge amount of cash, a source close to Shakira stated that the pop singer should have worth more than that. "That's rich for an organization that wants to be [conservative] with these kinds of deals," the source said.
Despite that the contract would include the company's control over Shakira's albums distribution, it seems that it won't be happening at least until in late 2009 as the singer is currently still under contract with Epic Records. The pop singer still has the obligation to release two more studio albums, one in English and another in Spanish, and also one greatest hits record.
But according the the reports, Live Nation doesn't actually expect much of Shakira's album's selling as they think that her strong point is on her world tour especially on her Latin America tour which continually sells out. "Shakira's numbers outside the US are crazy stupid [meaning great]," said a source to the New York Post.