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HE HAS LONG been considered the fifth member of the one of the most successful bands in the world, but U2′s manager Paul McGuinness has decided the time has come to Walk On (sorry).
The New York Times reports that McGuinness, who has managed the band since the start of their career more than 30 years ago, is negotiating to sell his company Principle Management to live music behemoth Live Nation and step down as manager.
Live Nation is also in negotiations to buy Madonna’s management company at the same time.
The move would see Guy Oseary, Madona’s manager, take over the day-to-day management of U2 while McGuinness would step back and become the chairman of Principle Management.
In a statement to the New York Times, McGuinness said the time had come for him to step back from U2.
“It could be seen as slightly poor etiquette for a manager to consider retiring before his artist has split, quit or died, but U2 have never subscribed to the rock ‘n’ roll code of conduct,” he said.
As I approach the musically relevant age of 64 I have resolved to take a less hands-on role as the band embark on the next cycle of their extraordinary career.
I have long regarded Guy Oseary as the best manager of his generation, and there is no one else I would have considered to take over the day-to-day running of our business.
Live Nation, which owns Ticketmaster, has become one of the biggest concert companies in the world. Reports suggest the company is expecting to pay more than $30 million for the two management companies.
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Paul Mc Guinness realised a long time ago what a gem he had in U2. He managed them, worked them, exported them, encouraged them and they are still legend. Well done to him and the best of luck.
This is a Beautiful Day no doubt.
I guess it was his Moment of Surrender… he had no Desire to carry one. In God’s Country a Party Girl with a Lemon is Deep in the Heart… you might say this is his Disappearing Act. We will all say that Happiness is a Warm Gun If you wear that Velvet Dress and Everybody Loves a Winner. Achtung Baby.
Only a u2 fan will get that, ,:-)
I don’t understand all the red thumbs.. i think it is a Testimony to the Unknown Caller… one piece of advice my red thumb friends you are Two Shots of Happy, One Shot of Sad.
Rolly usually the art of what you’re trying to do is to use a few names but ensure that it still makes sense. Just writing a list of names of U2 songs in a paragraph that makes no sense and bears no relevance to the article is a waste of time.
Thanks Ted, I’ll try do better next time.. sorry for wasting everyone’s time. My bad. Ted the Hall Monitor has put me straight everyone… i’ll guess i’ll just Walk On. Ted you are a Satellite of Love… you will be known as ‘The One’ from now on. In A Little While I’ll Breathe because Daddy’s Gonna Pay for Your Crashed Car.
You’re really running to stand still
Well Big Girls are Best, Dav.
Best of luck to him, he clearly did something right
Maybe he could take over instead of enda :)
Why oh why does any story on this site have to be twisted around to our government.
Actually the comment on Enda is relevant. McGuinness has shown himself to be a very good manager. If only the same could be said of Enda, Biffo, Bertie etc… get someone like MOL or PMG to run the country and we would be better off IMHO.
Would that mean we would all be paying our tax in a foreign country cos it would be cheaper.the country would be in great shape
Because the government deserve a kicking every minute of every day
Neenee – have you heard of the “double irish”? It is a bit bloody rich to have a pop at U2′s tax affairs when Ireland thrives on forms of tax piracy.
Sorry what was that?
Ireland what? Ireland thrives? Thrives?
Hardly thriving is it?
It’s a wholly legal policy, and about the only domestic policy that we have held onto and not conceded to the all consuming beaurocracy that is Europe. But don’t fret, they’ll take it off us soon enough. You’ll be nice and cosy under the thumb of merkel then won’t ya?
It would be nice if Bono retired with him……
Whats with Irish people wanting to shit on anyone who does well in this country?
Is this news?
The same comeback arises any time Bono is slagged off on this site, but he didn’t say anything about the rest of U2, or Paul McGuinness, or anybody else who happens to be Irish and have done well for themselves. Maybe he just doesn’t like Bono.
Maybe if Bono stuck to singing less people would be inclined to have a go at him? He goes on a bit about dropping the debth & his meeting with “world” leaders & meeting the world bank to discuss economic ideas if you ask me.
More singing less preaching please Paul.
Says the knob with john gilligan as his avatar
John you’re a sack !!! LMAO (at you)
Be nice if you lost your fingers with the stupid comment u just typed
Vincent….. its hard to believe that someone as intelligent as you could write that comment… you need to relax a little
Explain why it would be nice?
Jesus if only the rest would retire too
Thanks Paul
Without you U2 may never of happened
Best of luck in the future
Is the position of Manager of U2 available on Jobsbridge?
Yeah its under the heading ‘Things to Make and Do’.
Thank you Mr McGuinness, for spotting their talent in the 70s and to manage the biggest band in the world must of been amazing.
Bondholders
Bono won’t retire because he still can’t find what he’s looking for
Burn the Bonoholders
F#@k bono, southparks episode on him hit the nail on the head, remember bono theres only room for one on that pearly throne in heaven, and thats god!
‘ U2 have never subscribed to the rock ‘n’ roll code of conduct,” he said.’
Really? I think this will come as something of a surprise to all those who see the band as doing precisely that. Utilising every rock and roll cliche in the book. Not to mention the amount effort they put into maximising profit: though in fairness to Bono he did admit that they are primarily a ‘business’ . They are an excellent example of culture as an industry. You only wish that they had put more effort into offering an alternative to this rather than wholeheartedly endorsing it
unlike the layabout/quango classes in Ireland nobody ever forced anyone to buy an album or go to one of their concerts. They helped put Ireland on the musical map so good luck to them
And they helped put American band Negativland OFF the map. When Negativland put out a version of Still Haven’t Found which critiqued the pretentions of U2 in an hilarious and imaginative way, U2 used their lawyers to break Negativland. The video of the Negativland song has subsequently been taken down from the internet and the band never really recovered from the financial hiding dished out to them by U2 (there is a version of the song online but it has all the U2 commentary removed from it). On the other hand, the internet is awash with tributes to U2 from cronies like G Friday and so on. Unforgivable really and a good indicator of McGuinness protecting his business interests. And very UN rock and roll
I have a copy of the original Negativland cd, mentioned earlier. It was given to me by Paul McGuinness
Great. Can you put it up on youtube so that people can actually hear this example of censored dissent?? It is both funny and spot on
@dermott hayes
where is it? we’re still waiting (or are you on the payroll , too)!
Andrew, some of us have lives
Lol, and some of us have integrity
I seen U2 in slane right after Bono’s father died, they were excellent! But at the vertigo tour bono was constantly on about the 3rd world etc. If it was a live aid concert i would understand but it really put me off seeing them live. In fairness Paul did an excellent job, 30 years is a long time for them all to be working together and to reach such heights in the music industry.
With or without you, Paul
Does it look like I give a bollox??????
Does actually I’d say you would take it to
It looks like you need plastic surgery
Good man Jason you had to resort to picking on how I look your mother and father must be so proud hey. Your that ugly the journal wouldn’t allow for your face to be shown.
Sorry pal, that was a low blow, I retract that statement
Yeeeah. Another “1″ off the live register.
Do you know what the live register is willie?
Obviously not the big eejit
.
Dear Christine, her name is Madonna not Madona
Someone has to replace him. Dope
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