Madonna To Ditch Label?

There are reports claiming Madonna’s about to ditch her record company.

It’s claimed the singer’s about to sign a landmark $120 million 10-year deal with concert promoters Live Nation.

The reports have appeared in the Wall Street Journal, among other places.

The newspaper claims the 49-year-old is close to finalizing the details of what it described as a "virtually unprecedented" deal, citing people familiar with the deal.

The decade-long pact would see Madonna cement her status as the world's highest paid female singer, giving her a lucrative mix of cash and stock.

It’s also claimed, in return, Live Nation would be granted the rights to three studio albums as well as the right to promote concert tours, sell merchandise and license Madonna's name.