This looks like another blow for the crisis stricken record label EMI. One of their top acts, The Rolling Stones are likely to follow Sir Paul McCartney and Radiohead by leaving the record label.
The band's $28million, five album contract expires in May this year.
The band have been signed to the label for more than 20 years.
And the 'Brown Sugar' stars said yesterday that had signed a lucrative deal with Universal for their next album, a soundtrack to Martin Scorsese's film on the band Shine A Light.
Robbie Williams has said he will also withhold his next album from EMI, whose new owner Terra Firma is planning to cut 2,000 jobs.
"We are looking at a dwindling EMI," said Dan Cryan, a London-based music and entertainment analyst at Screen Digest. "They've been losing some marquee talent. If the Stones leave, we are looking at an increase in the speed of the decline."
Colin Browne, a spokesman for EMI at the Maitland public relations firm, said the Rolling Stones haven't signed with Universal and haven't left EMI. He declined to comment further.
"We're not an unknown quantity to them, as the world's No. 1 music company," said Adam White, a spokesman for Universal Music in London. "It's going to be their decision ultimately," he told Bloomberg.
By Owen Williams, Jan 18 2008 © Copyright 2008 - Showbiz Spy
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