Rolling Stones leave EMI high and dry

Egypt News.Net
Friday 25th July, 2008

The Rolling Stones have signed a long-term, exclusive worldwide contract with Universal Music.

Universal has said it will now release all new recordings by the group through its Polydor label and take over full digital and physical rights.

In a statement the company said it would start an unprecedented, long-term campaign to reposition the Rolling Stones' entire catalog for the digital age.

The Rolling Stones have dealt a major blow to their current label EMI, which has recently also lost other top artists from its roster.

The Stones' departure from EMI, where they'd been for more than 20 years, has created another low point for Terra Firma Capital Partners, the private equity firm that bought EMI last year.

EMI’s first blow came when the company failed to re-sign British band Radiohead.

Since then, Paul McCartney has left the label and artists such as Coldplay and Robbie Williams have expressed unhappiness with changes at the company.

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