January 21, 2008

Stones' aim to roll away to rival will rob EMI of £3m

Warner music is talking to the Rolling Stones about taking on the group's back catalogue of hits, which would deprive EMI's new private equity owner, Guy Hands, of about £3m a year. The band have said that they are releasing their next album through Universal, but they are also considering who to sign with when their current contract with EMI ends in May. Talks with Warner are most advanced, but the Stones are also negotiating with Universal and Sony in a bid to get the best deal. (The Observer)