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MADONNA is set to dump her record company and sign a $100 million (£50 million) contract with tour promoter Live Nation, according to reports.
The Material Girl is expected to walk away from her 25-year deal with Warner Music and hand control of new releases at live performances to Live Nation.
A senior music industry source says, "This is a sign of the times. At this stage in her career Madonna realises she stands to make more money from touring - £130 million ($260 million) on her last tour - than releasing records.
"So she wants to go with a company that can look after both rather than being tied to a record company."

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