Profits at U2’s management firm fall by €1.9m

U2’s management firm was loss-making for the fourth year in a row last year with new figures showing that accumulated profits deceased sharply by €1.9m.

Last November, Paul McGuinness confirmed that he was stepping down as manager of U2 after more than 30 years at the helm, when announcing the sale of his Dublin- based Principle Management to international music giant, Live Nation.

The sale was part of a reported $30m (€22.2m) deal that also included Live Nation purchasing Madonna’s entertainment company, Maverick. Mr McGuinness is to remain chair of Principle Management with Guy Oseary taking over U2’s day-to-day management.