Concert promoter Live Nation is wrapping up the final details of a deal with pop star Shakira valued at upward of $70 million and could announce the pact within weeks, The Post has learned.

According to several sources close to the situation, Live Nation and Shakira have agreed to the terms of a deal and are now going over the fine print. Sources said the deal will be for recording, touring, merchandising and other rights, known in the industry as a "360 deal."

Inking the Shakira deal comes just one week after a brawl in Live Nation's boardroom prompted the resignation of Michael Cohl as chairman. The battle focused on the number - and type - of artists the company is signing, as well as the economics of such deals.

Cohl's departure has sent shock waves through Live Nation, with employees in the company's Artist Nation division - which was set up to house Madonna, Jay-Z and the other artists expected to sign 360 deals - fearing layoffs.

Though Live Nation and Shakira have been in talks for about 10 months, sources said after last week's negative press, CEO Michael Rapino wanted to move quickly to finalize the deal as a way to reassure employees the he was committed to the Artist Nation strategy.

A spokesman for Live Nation declined comment. Shakira's lawyer, David Lande, did not return multiple calls for comment.

While the value of the Shakira deal is less than the $120 million Live Nation agreed to pay Madonna and the $150 million it committed to Jay-Z, sources said the price tag being bandied about was still a robust payday for the "Hips Don't Lie" singer.

"That's rich for an organization that wants to be [conservative] with these kinds of deals," said a source close to Live Nation.

Shakira still owes SonyBMG's Epic Records another English-language studio album, expected next spring, as well as a greatest-hits record.

That means that Shakira likely won't deliver her first album to Live Nation until late 2009 or early 2010, at the earliest. Prior contract commitments also mean Madonna and Jay-Z are not expected to release Live Nation albums until then, as well.

But sources said Live Nation isn't banking on Shakira's album sales or even domestic touring to make the deal work.

Aside from US cities with large Hispanic populations, sources said, Shakira lacks the built-in fan base that Madonna and Jay-Z enjoy in the US.

Rather, sources said Live Nation views Shakira as a top-level international touring draw, particularly in Latin America, where she routinely sells out stadiums.

As one source put it: "Shakira's numbers outside the US are crazy stupid [meaning great]."

These sources said Live Nation expects Shakira to continue growing her international audience and is banking on her to be their Latin music pillar, much like Madonna is for pop and Jay-Z is for hip-hop.

"Live Nation is trying to establish itself in a big way in each genre no matter what the loss leader is going to be on it," said one major label executive

it'll be interesting to see how Live Nation does as a record label,as far as promotion and marketing goes.This is unchartered territory for them.

Why on earth would Shakira sign such a stupid deal? In the long run, she'd be better off just doing what she's doing rather than giving a piece of her merch a touring money to Live Nation. They'll probably make a lot more off her than they will Madonna and Jay-Z, but still...

Shakira should get more $$ than Jay Z in a heartbeat, reason being, worldwide she is more known, and sells more in all forums, his strong point is the USA, but she outsells him in almost all other markets.

Why?

I thought her 2 Oral Fix albums were superb.

Rick Rubin did a great job, and I often play them and still enjoy them.

She would be one pop star I think clearly makes good albums.

She deserves the cash.

Something is fishy about Live Nations cash flow.

Graycap23 said:

Exactly.

Forget goat girl.

Graycap23 said:

Nothing's fishy. They promote liquor, soda, the army, and everything else only they're upfront about it instead of pretending to be about the business of music like all the others.

wait....Jay-Z got a bigger deal than Madonna?

isnt Jay-Z the guy who did a cameo in a Mariah Carey song?

...or is his own stuff successful enough to warrant such a deal? I havent heard from him since Heartbreaker lol...

The Jay-Z deal involves a new record label and other joint ventures.Madonna's deal is strictly all about her....her albums,her tours,her merchandising.His deal is bigger than Madonna's because there's so much more involved.

Graycap23 said:

There's nothing fishy about it: they're losing money! Net loss of $35.4 million in the first quarter of this year, it appears:

http://money.cnn.com/quot...l?symb=LYV
(scroll down to "total net income")

Oh,and their share price is about half of what it was when they signed the deal with Madonna!

http://money.cnn.com/quot...V&time=1yr

Although they call it recording contract. Recording is just an after thought,They will mainly be making money from sellin tshirts beer soda .... at concerts. jay-z is not much of a concert draw and his cds aint sellin so his contract doesnt make sense. shakira english albums have lost thier lust she had a surprisin hit with hips dontlie the album was almost dead on arrival when her first single failed
(one she painted her body) and was barely goin gold when hips revived it a bit
[Edited 7/2/08 6:43am]

CandaceS said:

This does not surprise me that they are losing money.