Live Nation Continues World Dominiation, Buys U2 and Madonna

Music industry Goliath and proponent of the monopoly and totalitarian business practices, Live Nation, is in the process of closing a deal which gives them ownership of U2’s Principle Management and Guy Oseary’s Maverick.
According to this article in today’s Music Week, the acquisition would result in Oseary taking over management duties for U2. Neither Music Week nor The New York Times have any insight on exactly what McGuinness’ ‘new role’ as the chairman of Principle Management would be but I presume it involves him sitting in Dublin or similar cashing checks and searching for his long lost soul.

While Oseary and Live Nation have yet to comment on the matter, McGuinness released a statement which said:
“It could be seen as slightly poor etiquette for a manager to consider retiring before his artist has split, quit or died, but U2 have never subscribed to the rock and roll code of conduct. 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.
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.”

I’ve often spoken about Live Nation and their all encompassing, not to mention ever growing, monopoly of the music industry. I’ve also spoken about Paul McGuinness’ absolute hypocrisy; berating Google for monopolistic tactics and practices while continually cashing checks from Live Nation. For those unclear about why exactly I say that, I refer you to Irony and Hypocrisy in a Live Nation, a piece I wrote about this very thing in January of 2012.

I’ve yet to understand how it’s beneficial for a single company to own venues, promotion and production companies, management companies, managers, and the artists themselves, but perhaps I’m just not wired to understand such advanced business happenings. Clearly I’m wrong as everyone knows that college kids in dorm rooms downloading MP3s are the worst thing to ever happen to the music industry. Meanwhile, a multibillion dollar media giant which has its hand and bank account in every single aspect of the industry is wonderful for growth, fairness, and artist development. Perhaps this new venture will see U2 embark on a modern day Popmart tour. It seems only fitting that U2 readdress the issue of consumerism and materialism, but instead of taking jabs at McDonald’s and Kmart, this time mocking themselves for becoming Live Nation marionettes.