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New York, U.S. - Latin music pop star Shakira is in talks with concert promoter Live Nation for a contract that will include touring, merchandising and recording, according to people familiar with the talks.
The Colombian-born songstress, whose 2006 hit Hips Don't Lie was No. 1 in the United States, is expected to complete a multimillion-dollar deal with Live Nation before the end of the year, after months of talks.
The New York Post reported on Tuesday that the so-called 360-degree deal could be worth up to US$70 million (S$95 million), though one person close to the artist said she should be worth more based on her recent touring success.
Live Nation's strategy is to expand its business beyond handling artists' touring to also offer recording, merchandising, ticket sales and other services that have traditionally been handled by disparate companies.
Live Nation already has a touring relationship with Shakira, having handled the US leg of her Oral Fixation tour last year. People familiar with the global tour said it had grossed over US$100 million.
Shakira's recording rights currently belong with Sony BMG Music Entertainment's Epic Label.
The 31-year-old, who has sold more than 50 million albums around the world, still has two more studio albums to deliver - one in English and the other in Spanish - under the Epic contract, as well as a greatest hits album. -- REUTERS
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