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Rolling Stones May Leave EMI as Financier Guy Hands Cuts Jobs

The Rolling Stones may leave EMI Group Plc after more than 20 years on the label, said a person with direct knowledge of the matter. The band would be at least the fourth to express unhappiness with owner Guy Hands's job cuts. Mick Jagger and the Stones are considering options for the rights to their song library and new recordings after the band's contract with EMI expires in May, said the person, who asked not to be named because the plans are confidential.

The band has ties with Vivendi SA's Universal Music Group, the world's largest music company. Yesterday, the Rolling Stones said in a statement that Universal will distribute the soundtrack for Martin Scorsese's film ``Shine a Light.'' The movie was shot at the band's performance at the Beacon Theatre in New York in 2006, and includes archival footage. 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.

Bloomberg

Posted by | Thu, Jan 17, 2008 - 09:34 AM