Shakira to Sign a $60million Three-album Deal with Live Nation & Sony

Shakira performs during the Latin Grammy awards in Los Angeles

     Colombian superstar Shakira is said to be on the verge of signing a $60 million deal with Sony and Live Nation for the singer’s next three albums.

    NewYork posts reports Live Nation’s three-album Shakira deal with Sony could be worth as much as $60 million with the two partners agreeing to split sales.

     The deal will have the two companies teaming up to release shakira's new albums together while sharing profits from sponsorships, merchandising and recorded music. Sony is expected to handle distribution. 

     In July 2008, the Colombian songstress left Sony’s Epic label for a 10-year deal with Live Nation valued between $70 million and $100 million. Shakira was among a handful of superstars, including Madonna and Jay-Z, to ditch their traditional record backers and sign huge rights deals with Concert Promoter Live Nation in recent years.