Report: Madonna close to leaving Warner Music

New York (CNNMoney.com) -- Pop superstar Madonna is considering leaving her current record label, Warner Music Group Corp.'s Warner Bros. Records, to enter a $120 million deal with concert promoter Live Nation Inc., according to a report published in the Wall Street Journal Wednesday.

The ten year agreement would give Live Nation (Charts) the rights to three studio albums, concert tour promotions, sales of merchandise, and would license her name. In return, Madonna would receive a mix of cash and stock, the Journal said.

The deal is a sign of a shift taking place in the music industry where revenue streams such as endorsement deals, concert ticket and merchandise sales are becoming more important, the Journal said.