U2 looking at Live Nation deal?

U2 is reportedly in talks with the Live Nation concert promotion organization about securing a "360" deal with the company similar to the one Madonna struck with Live Nation last year, according to FoxNews.com. The Irish supergroup started its career on Island Records, which was later absorbed into Polygram, which itself eventually merged with Universal Music. Sources told FoxNews.com that U2's last studio effort, 2004's How to Dismantle an Atomic Bomb, and a recent reissue of its classic The Joshua Tree fulfilled the band's contract with Universal. The quartet is currently working on a new album that is tentatively due to arrive later this year.

Madonna's stunning deal with Live Nation encompassed nearly all aspects of her musical career, including albums, merchandising and touring. She left the Warner Music Group, her only professional home, after 25 years.

U2 recently released a 3D concert film called U23D, although the FoxNews.com report points out that there was no accompanying live soundtrack to the movie.

In addition to its next traditional rock album, U2 is also said to be working on a score for a Broadway musical about Spider-Man.

Other artists who have defected from the major labels in recent times include Radiohead, Paul McCartney, James Taylor, the Eagles and possibly the Rolling Stones.