Saturday, November 3, 2007

Madonna is $120 Million Richer


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Madonna and a longtime friend were spotted after their workout at a Midtown Gym club on Thursday morning. Perhaps she’s flexing those muscles for when she has to carry a sack full of money some time soon.

The Queen of Pop will reportedly leave her record label Warner Music to sign a $120 million recording and touring deal with Live Nation Inc. Under the terms of the proposed deal, Madonna would receive a signing bonus of $18 million and $17 million advance for each of three albums.

Madonna has been with Warner Music since her 1983 self-titled debut album. We have to wonder what went wrong for them to part ways.