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  2. Originally posted by CNBC
    U2's $25 Million Payday From Live Nation

    U2
    --------------------------------------------------------------------------------

    Rock band U2 brought home $25 million this past week, cashing in its Live Nation [LYV 3.97 -0.33 (-7.67%) ] stock as part of the 12-year deal it made with the concert promoter in March. The band sold 1.6 million shares for about $6 million, putting Live Nation on the hook to pay the remaining $19 million in cash.

    U2 may have needed the funds for holiday shopping, but it wasn't exactly ideal timing for Live Nation, which surely would have much preferred the band wait until their stock was worth more.

    As part of a "360" agreement that gives Live Nation control over the whole range of U2's revenues in exchange for some significant payments, including $25 million in stock. When this deal was first struck, U2's agreement to accept stock instead of cash was seen as a sign of confidence in Live Nation's business, though the company tells me, it always promised the full $25 million.

    Still, this looks pretty bad, especially considering the fact that LYV hasn't yet started to recoup its investment in U2 and won't until the band goes on tour next year. Live Nation had the cash on hand to pay, no problem. But critics are drawing attention that other artists like Madonna will similarly be able to sell the cash components of their deals.

    Billy Joel, Elton John tickets selling briskly
    Live Nation defends its "360" model, regardless of where its stock is trading now. The company sent me the following statement: "This payment is the down payment on our 12 year agreement with one of the world’s most successful global artists that we will begin to monetize next year. We believe U2’s 2009 tour will be one of their biggest yet and the driver for monetizing the expanded rights under our deal resulting in a higher margin for Live Nation."


  3. Originally posted by BetaNews
    Palm gets a $100M shot in the arm from none other than Bono
    By Jacqueline Emigh, BetaNews
    December 22, 2008, 11:53 AM
    Just when mobile device maker Palm could really use a lift, Elevation Partners -- a VC firm that includes U2 singer Bono -- is coming through with a $100 million investment.

    With the launch of a new mobile platform and smartphone slated for next month's CES show, financially beleaguered Palm, Inc. has nailed down a highly needed $100 million equity investment from Elevation Partners, a venture capital firm that includes Bono, lead singer for the rock band U2.


    "Palm has an industry-leading team and an exciting, differentiated product roadmap. We are proud to be associated with the company and look forward to great things from Palm in 2009 and beyond," contended Roger McNamee, co-founder of Elevation Partners, in a statement issued by Palm today.

    "The additional capital from Elevation Partners will enable us to put added momentum behind the product introductions scheduled for 2009 and will provide us with enhanced stability in unsettled economic times," predicted Palm President and CEO Ed Colligan, in another statement.

    As previously reported in BetaNews, Palm officials confirmed late last week that their product announcements for early 2009 will include a smartphone running on the company's forthcoming Linux-based Nova platform.

    Palm will aim the Nova platform mainly at consumers, at least initially, Colligan said, in a conference call with financial analysts on Thursday. At the same time, the device maker will keep focusing on Microsoft's Windows Mobile as its enterprise platform.

    The manufacturer of Centro and Treo smartphones had earlier sent out invitations to a CES press conference, promising "Palm New-Ness."

    Palm has been facing intensifying competition on both sides of the mobile market, particularly with the introduction of Apple's 3G iPhone and the Android-based G1 smartphone over the past year.

    The five partners in Elevation, a $1.9 billion private equity firm, include McNamee, also the co-founder of Silver Lake Partners and Integral Capital Partners; the U2 rock band's Bono; Fred Anderson, former EVP and CFO of Apple; Bret Pearlman, former senior managing director of The Blackstone Group; and Marc Bodnick, founding principal of Silver Lake Partners.


  4. I don't know if it's interesting, but, according to a Brazilian gossip site, Adam is here in Brazil to spend the new year's day at hotel in Bahia. But no pictures so far.
  7. that picture would be worth a thousand words.
  9. oh.my.god LOL

    Bono wearing a kilt.... I can't WAIT for that picture......
  10. well, we can see a hint of it at the bottom of the picture
    but yeah.. naked legs on new year's? I'd have been freezing to death, haha.
  11. Originally posted by flowerchild:well, we can see a hint of it at the bottom of the picture
    but yeah.. naked legs on new year's? I'd have been freezing to death, haha.


    eyeliner.... kilt... that's just too much for me *zooms out*

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U2start is run by fans for fans. Help us reduce personal costs. Consider to make a donation to support us.
U2start is run by fans for fans. Help us reduce personal costs. Consider to make a donation to support us.
U2start is run by fans for fans. Help us reduce personal costs. Consider to make a donation to support us.