- by Jason Gregory
- Monday, January 21, 2008
- filed in: Rock
The Warner Music Group are understood to be in advanced talks to acquire The Rolling Stones entire back catalogue.
The deal could potentially see EMI – the bands current label – lose up to £3 million a year in revenue.
The reports, which emerged in yesterday’s Observer, claim that rivals Sony and Universal are also considering making an approach for the bands past hits.
The Rolling Stones future at EMI now looks even more uncertain after last week’s announcement that their soundtrack to the film ‘Shine A Light’ would be released on Universal.
It’s understood that the band were not satisfied with the cost-cutting plans of EMI’s new owners, Terra Firma, who confirmed last week that up to 2,000 staff would lose their jobs.
The groups current deal with EMI expires in May.
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