The 'Hung Up' singer is leaving her long-time record company Warner Music
Group Corporation after receiving the huge offer from live entertainment
promoter Live Nation Incorporated.
An insider said : "Madonna's management told Warner last
week that she would accept Live Nation's offer after the record company
refused to match the deal."
Madonna's outstanding contract with Warner requires her to produce one more
studio album and a greatest hits record.
Live Nation's proposed 10-year deal promises Madonna, 49, a signing bonus of
around $18 million and a $17 million advance in cash and stocks for each of
the three albums stipulated in the contract.