Variety is reporting today that U2 have signed a deal with concert promoters Live Nation that will keep them on stages across the globe for the next 12 years. The agreement with U2 is Live Nation Artists’ first feather in their cap since landing a deal with Madonna last year. The deal with U2 will include concert promotion, merchandising, digital and branding rights.

U2 frontman Bono said of the deal that the group wanted a “closer, more direct relationship between the band and its audience, and Live Nation has pledged to help us with that.”

U2’s deal with LNA will not affect their recording agreement presently in place with Universal.

Read the full story over at Variety. Talk about U2 over in our Lounge!