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

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.

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.

Pre-tax losses at the artist management company of U2 manager Paul McGuinness last year increased seven fold to €1.8m, figures show.

PRE-TAX losses at the artist management company controlled by U2’s manager, Paul McGuinness increased last year by 10% to €253,821.