LN MCGUINNESS GUY O

LIVE BOMBSHELL: The New York Times reports that Michael Rapino's Live Nation is nearing a $30 million deal with the management companies of U2 and Madonna. If the pact goes through, LN will acquire Paul McGuinness’ Principle Management and Guy Oseary’s Maverick; furthermore, McGuinness told the paper that as part of the deal, Guy O would assume day-to-day management of U2. “As I approach the musically relevant age of 64 I have resolved to take a less hands-on role as the band embark on the next cycle of their extraordinary career,” reads a statement from McGuinness. “I am delighted that Live Nation, who with Arthur Fogel have been our long term touring partners, have joined us in creating this powerful new force in artist management. I have long regarded Guy Oseary as the best manager of his generation, and there is no one else I would have considered to take over the day-to-day running of our business.” We’ll have more details as they come in. (11/12p)