Shakira quits record label for Live Nation

New York, July 3 : Shakira has followed in the footsteps of Madonna by leaving major record companies in favour of the international touring giant Live Nation.

The 31-year-old Colombian-born has signed a 10-year international deal with Live Nation that will involve touring, recordings, sponsorship, and merchandising throughout the world.

Shakira's reps and Live Nation did not confirm the value of the deal, reports the New York Times.

However, sources have said that depending on the singer's performance over the 10 years, it is likely to be worth between 70 million dollars and 100 million dollars.

Meanwhile, Shakira's contract with Epic Records calls for three more albums - one in English, one in Spanish, and a compilation - but the touring and other rights of the Live Nation deal would begin immediately.

ANI