Coachella Organizers Make it Rain on Prince

Oct. 27 2008, Published 7:07 a.m. ET

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HAND-OUT Prince Newly minted music industry insider Perez Hilton is quoting sources who say Prince is getting $4.8 million to headline the second night of the Coachella festival on April 26. That's more than four times what he was allegedly paid for a private gig in June 2007 in Austin and significantly more than his $3 million week-long residency in the Blossom Room at Hollywood's Roosevelt hotel that same summer. Broken down spatially, that's about a million dollars-per-foot of the purple one's wee stature. Also, it's really the perfect venue for taking a new hip for a spin.

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