By Jeff Leeds                                                   

          LOS ANGELES, Oct. 10 — Madonna is about to become the latest music superstar to defy the music industry’s traditional structure by exiting her longtime record label, Warner Brothers Records, for a lucrative deal that relies heavily on her longevity as a live-concert attraction.

          Madonna is nearing an agreement with… Live Nation, the concert promoter, that would pay her more than $100 million in exchange for three albums and the exclusive rights to promote her concerts and to market her merchandise in a wide-ranging partnership, according to people briefed on the talks.

          The deal, which includes cash and stock, would pay her about half the total upfront, said these people, who requested anonymity because the agreement had not been completed.

          The deal, which was first reported yesterday on The Wall Street Journal’s Web site, is the latest example of how tough times for record labels and concert promoters have set off a free-for-all over the rights to the various revenue streams created when a musician becomes a star. Instead of sharing in only one piece of the income — say, CD sales — companies are angling to share in all of an artist’s business lines, like publishing, merchandise sales and endorsement fees.

          Madonna’s move particularly underscores the determination of Live Nation to encompass a wider swath of the music business. The publicly held company, based in Beverly Hills, Calif., made an earlier foray into so-called all-rights or 360 deals with artists when it made a small investment to share in the earnings of Korn, the hard-rock act.

          But it is making a much bigger leap — and taking a bigger risk — with Madonna, who turns 50 next year, and who, the company expects, will continue her live-concert success for years to come. Madonna’s “Confessions” tour last year ranked as the highest-grossing tour ever by a female artist, according to Billboard magazine. The tour generated roughly $195 million from 60 shows and drew more than 1.2 million fans.

          Her last album, “Confessions on a Dance Floor,” sold an estimated 1.6 million copies in the United States.

          It is not clear how many copies Live Nation expects her future albums to sell, but it may be some time before the company has a chance to release Madonna’s music. Madonna owes one more studio album to Warner under her contract there; that album is expected to be released next year.

          Warner also owns the rights to Madonna’s catalog of earlier recordings. Under the deal with Live Nation, according to people briefed on the arrangement, ownership of her new recordings would eventually revert to her.

          Representatives for Live Nation and Warner Music declined to comment. Madonna’s manager, Guy Oseary, could not be reached for comment.