January 17, 2008

Like a Rolling Stone - EMI Takes Another Hit

Billboard and Rolling Stone Magazine report:

THE ROLLING STONES, whose recording deal with EMI is approaching the end, have signed a one album deal with Universal Music for the soundtrack to the film "Shine a Light", directed by Martin Scorsese.

The band currently owns its post-1971 catalogue, but it appears the EMI was the distributor. If the Rolling Stones leave, it will be a major blow to EMI - who have recently, in addition to their other financial problems, lost two other big acts: Paul McCartney and Radiohead. The Wall Street Journal eloquently referred to the situation as a "vote of no confidence by a marquee act"

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