Live Nation has entered into a long-term global partnership with Nickelback, following closely on the heels of a multi rights deal notched with Shakira.

A source confirms the deal is worth in the $50-$70 million range.
Payments are set to roll out over time as the band performs.

Rather than a time frame, a Live Nation statement says the deal "contemplates" all areas of Nickelback's global music enterprises, including three touring and album cycles, with an option for a fourth. Under the deal Live Nation, has acquired 12 separate artist rights to feed its global distribution pipe. These include touring, tour sponsorship, tour merchandise, tour VIP/travel packages, secondary ticketing, recorded music, clothing, licensing and other retail merchandise, non-tour sponsorship and endorsements, DVD and broadcast rights, fan club, Web site and literary rights.

Nickelback, which previously toured arenas with AEG Live, is expected to play Live Nation amphitheaters, beginning next year. Similarly, the band's merchandising had been through Bravado, and will be handled by Live Nation's merchandising team in the future. So both merch and touring represent "found money" for Live Nation in the Nickelback business.

"Our relationship with everyone at Roadrunner Records has been amazing throughout our career and we look forward to continuing that same great relationship for the remainder of our recording commitment with them," said Nickelback's Chad Kroeger in a statement. "With that said, the Live Nation deal helps us maximize the band's opportunities in all areas of our career."

A source says the band has two records left on their Roadrunner contract.

Nickelback becomes the fourth superstar act to join the Live Nation Artists' roster, along with Madonna, Jay-Z and Shakira, with the previously announced U2 deal expected to be completed in the coming months. Nickelback has sold more than 26 million albums worldwide, with their last album selling more than 10 million units globally.

They are a touring powerhouse and have built their fan base by relentlessly breaking into new markets with their live shows. The Canadian rockers' last tour, which visited North America and Australia in 2006/2007, sold more than 1.5 million tickets and grossed in excess of $67 million.

Nickelback ranked 20th among all touring acts in 2007, according to Billboard Boxscore.