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TORONTO - Alberta rockers Nickelback are the latest superstar act to sign a broad-ranging contract with Live Nation, handing over rights to touring, recording and merchandise business in the same type of multi-faceted arrangement that has lured Madonna, Jay-Z and U2 to the entertainment company.

The Canadian rock group, who scored worldwide hits with songs including "Too Bad," "How You Remind Me," and "Photograph," said Tuesday it was an exciting venture that should position them well for the future.

"The Live Nation deal helps us maximize the band's opportunities in all areas of our career," frontman Chad Kroeger said in a statement from Live Nation.

"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."

No financial details were revealed but the L.A.-based company said the contract will encompass three touring and album cycles, with an option for a fourth.

It also takes charge over Nickelback's recorded music, touring, merchandise, licensing, endorsements, ticketing, sponsorships, DVD and broadcast rights.

Live Nation says the band's last tour, which visited North America and Australia in 2006-2007, sold more than 1.5 million tickets and grossed more than $67 million.

But it will be some time before the deal kicks in.

EMI Canada says Nickelback is under contract for one more album. Elsewhere, the band is under contract with Road Runner Records for two more discs and a greatest hits package. The signing comes less than a week after Live Nation finalized a 10-year deal with Colombian star Shakira. That deal is reportedly worth between $70 and $100 million.

Other high-profile signings include a 10-year deal with Madonna valued at $120 million and a deal with Jay-Z rumoured to be worth $150 million. A less-extensive arrangement with U2 is expected to be signed in the coming months.