The Colombian beauty could join an elite league of music heavyweights including Madonna, Jay-Z and U2 if the deal goes ahead.
According to the New York Post, the singer – whose deal has been valued at over US$70 million – has agreed to terms including recording, touring, merchandising and other rights.It is believed a deal could be announced within weeks after 10 months of talks.
Shakira is obligated to release another English-language studio album under the terms of her current contract with SonyBMG’s Epic Records. This will be released next spring (09). The label also plans to release a greatest hits album.
A spokesman for Live Nation and Shakira declined to comment on the deal.
Shakira is the highest-selling Colombian artist of all time, selling more than 50 million albums worldwide, according to the RIAA, and placed #4 on Forbes magazine’s first-ever “Cash Queens of Music” top female money-earners list. Between June 2006 and June 2007, Shakira reportedly earned $38 million, behind Madonna ($72 million), Barbra Streisand ($60 million), and Celine Dion ($45 Million).