Pete The Chop

Reports this morning say the Dublin super-group have a combined fortune of €618m.

Michael Flatley is the second-richest entertainer with an estimated €465m.

This year’s overall Sunday Times rich list is reportedly headed by Dublin-born model Hilary Weston, who married into a retailing dynasty in Canada, giving her an estimated fortune of €7bn.

- Independent News & Media

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THE Sunday Independent in Ireland published its annual list of who’s making what over there, and to absolutely no one’s surprise, U2 top the list of wealthiest entertainers, with a healthy bank balance of €900 million. Nice! “The band, which has traditionally split earnings equally among Bono, Adam Clayton, Larry Mullen, the Edge and manager Paul McGuinness, has begun to divide up its vast portfolio among their respective families,” says the Indo. Clearly, the relatives won’t have any financial worries in the future!

Coming in second is Michael Flatley, who’s said to have €590 million to his name. Chicago-born Flatley resides full time at his Castlehyde mansion in Co. Cork with wife Niamh and son Michael Junior. “He has a wide range of investments,” says the paper. Putting it mildly! (more…)

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Live Nation, the promoter that owns or manages venues such as Wembley Arena and Manchester Apollo, has signed an $80 million (£40 million) upfront deal with U2 that will tie the Irish rock band to its venues for the next 12 years.

The deal underlines the growing battle for live rights and cements the Irish four piece into a long-term deal, where previously the band worked with New York-listed Live Nation on a tour-by-tour basis.

Bono, lead singer of U2, said: “We’ve been dating for over 20 years now; it’s about time we tied the knot.” Live Nation has produced every U2 tour since 1997 but company bosses first worked with the band in Toronto in 1980. (more…)

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US concert promotion company Live Nation has signed U2 up to for 12-year deal for merchandising.While U2 will stay with Universal Music, all merchandising, digital and branding rights will now be controlled by Live Nation.

The deal will be global.

Live Nation has managed U2’s world tours for the last 20 years.

Licensing rights, sponsorship opportunities, fan club and web site activity as well as marketing and creative services will be handled now by Live Nation on behalf of the band.

The deal falls short of a similar agreement the company signed with Madonna last year. Under the Madonna deal, the touring company will also release all of Madonna’s new music once her Warner deal runs out after her forthcoming ‘Hard Candy’ album.

Live Nation shares closed at $11.83 on Friday, down from 12 month high of $24.09

by Paul Cashmere, Undercover.com.au

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