Former U2 management firm Principle Management records €204k loss

The management business bought by music giants Live Nation from former U2 manager Paul McGuinness recorded losses of €203,717 in its first year.

In November 2013, Mr 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 Live Nation.

The sale was part of a reported $30m deal that also included Live Nation purchasing Madonna’s entertainment company, Maverick.