Madonna Splits Maverick
August 20, 2007 at 8:24 AM (PT)
MADONNA and MAVERICK are no more. FOX NEWS reports the pop music icon has split with the label she co-founded 12 years ago, MAVERICK RECORDS, in a buyout by WARNER MUSIC GROUP, WMG announced TODAY (8/20).
Insiders estimate the deal by WARNER to buy out MADONNA could be worth $100 million to the MATERIAL GIRL, who’s reportedly planning a move to the LOS ANGELES-based LIVE NATION (NET NEWS 7/30).
MTV.COM reported that the company will also buy out MAVERICK COO RONNIE DASHEV; third partner GUY OSEARY will continue to work with both MAVERICK and WARNER MUSIC.