Stones Leave EMI

Rolling Stones to part company with EMI

15 June 08 - It has been reported in today's Observer that The Rolling Stones are on the verge of ending their 31-year relationship with the EMI.

This would be a huge blow to private equity company Terra Firma, led by Guy Hands, which acquired the label in a £3.2bn deal last summer. 

Sources say the Stones are close to clinching a deal with Live Nation, the world's biggest concert promotion firm, which would market its back catalogue, depriving EMI of around £3m a year.

Live Nation, who've recently done massive deals with Madonna, Jay-Z and U2, would also take merchandising and touring rights for future Stones shows, some of which have grossed as much as £750m.

The Observer claims details of the new deal could be announced in the next fortnight.

Elizabeth Alker