U2 Seals Deal with Live Nation

According to cnetnews.com, U2 has now sealed a 12-year deal with Live Nation.

The promotions company, that already holds a similar deal with Madonna, will oversee U2's Web site, merchandising and touring.

Lead singer Bono states: "We've been dating for over 20 years now, it's about time we tied the knot. ... With regards to U2.com, we feel we've got a great Web site, but we want to make it a lot better."

In fact, Live Nation has been handling U2's touring since the 1980s, per the BBC.

Live Nation chairman Michael Cohl reveals that "U2 has created some of the greatest rock music of all time. ... It has long been our intention to consolidate and extend our relationship."

As for U2's recording and publishing deal with Universal Music group, that deal remains as it is.

Efluxmedia.com claims the financial details of the deal weren't clarified, but that one might keep in mind the 10-year, $120 million contract signed by the queen of pop, Madonna, last year.