Madonna sells Maverick
22/08/2007
Madonna has sold her record label, Maverick, 12 years after she founded it.
The 49-year-old singer, who is working with Justin Timberlake on some new songs, has sold the 60 percent of the company she co-owns with two partners to minority shareholder Warner Music.
The parties fell out over contract issues earlier this year and the sale is seen as an equitable settlement.
Maverick, which signed Alanis Morissette and represent The Prodigy in the US, will now be solely owned by Warner Music Group, the company which Madonna is signed to as an artist.
Although the deal does not affect Madonna's artist contract with Warners, it heightens speculation that the star may be about to embark on a new collaboration with concert promoter Live Nation.
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