McGuinness winds up U2 company.

Paul McGuinness has moved to liquidate his music management firm with the voluntary winding-up process expected to produce a cash pile of over €1.1m.

In November 2013, McGuinness confirmed that he was stepping down as manager of U2 after more than 30 years, when announcing the sale of his Dublin-based Principle Management to international music giant, Live Nation.

The sale of Principle Management to Live Nation was part of a reported $30m (€24.9m) deal that also included Live Nation purchasing Madonna’s entertainment company, Maverick.