Washington, July 9 (ANI): Canadian rock band Nickelback are the latest act to sign a global recording, touring and merchandising deal with concert promoter Live Nation.

The three-album, three-tour deal is estimated to be worth between 50 million dollars and 70 million dollars.

The Live Nation deal helps us maximize the band's opportunities in all areas of our career, E! Online quoted frontman Chad Kroeger, as stating.

We are extremely confident that Live Nation's complete global team is the world's finest and we are excited to be a part of the Live Nation vision and future, he added.

Madonna, Jay-Z, U2 and Shakira are some of the other major artists to sign with the company in recent months.

Nickelback, whose hit singles include 'Rock Star' and 'Photograph,' have sold more than 26 million albums to date. (ANI)