Entertainment company Sanctuary Group announced Friday (4/1) that it has cut a deal with singer Elton John [ tickets ] worth about $30.2 million.

Under terms of the deal, Sanctuary will acquire Twenty-First Artists Limited--a management firm that John co-owns--and has signed the singer to a five-year management contract.

"I am very pleased to be involved with Sanctuary as I have been impressed by the approach they take, particularly toward the artist," John said in a statement. "I feel strongly that this will represent the continuation of a very creative period for me and I am looking forward to working with [the company]."

As promised, organizers on Friday (4/1) unveiled the preliminary details for this summer's Lollapalooza [ tickets ] festival. According to information posted at the event's revamped website, the two-day affair--which, for the first time, will be a one-off event staged in a single city rather than a traveling tour--is set for July 23-24 at Chicago's Grant Park, and will feature a total of 70 bands on five stages. The website plans to launch a ticket pre-sale April 7.

Neil Young [ tickets ] underwent surgery on Tuesday (3/29) to "address a brain aneurysm," according to a Billboard report. He is expected to make a full recovery.

Barbra Streisand [ tickets ] and Barry Gibb--who worked together on Streisand's chart-topping 1980 release "Guilty"--are joining forces for a new album. As he did on "Guilty," Gibb will write and produce the as-yet-untitled project, according to Columbia Records.