Bono is to act as a special advisor to movie-making duo the Coen Brothers on their new record label, DMZ Records.
NME.COM reports that Joel and Ethan's decision to form DMZ is based on the success of the soundtrack to their acclaimed film 'O Brother Where Art Thou?'.
The soundtrack has sold over 4.5m copies and won five Grammys this year.
The album's Grammy-winning producer, T-Bone Burnett, is on board for the Coen's new venture, as are Tom Waits and Elvis Costello who will also act as special advisors.
The debut release from DMZ will be an album from Ralph Stanley, the 75-year-old country singer who won a Grammy for 'O Death' from the 'O Brother…' soundtrack.
