In reply to:
David Bowie is reportedly on the brink of walking away from EMI, the troubled UK music group in the middle of an auction, after a 15-year relationship in which the label held the rights to the bulk of his back catalogue including classic albums Ziggy Stardust and Space Oddity.
Bowie's contract comes to an end in January and the Financial Times reports today that EMI have declined to comment.
Bowie is apparently in talks with Universal Music and Sony Music, who hold the rights to his output since 1995.
In 1997, Bowie struck a licensing deal with EMI for his back catalogue giving the group the rights to release 25 Bowie albums from between 1969 and 1990. These included his most popular work Ziggy Stardust, Aladdin Sane, Hunky Dory and Lets Dance as well as unreleased studio and live recordings. The artist was guaranteed more than 25 per cent of the royalties from wholesale sales in the US.
There is currently an auction of EMI by Citigroup, which seized control of the music company from Terra Firma in January.
A sale of EMI's recorded music business to either Warner or Universal would reduce the number of major music companies from four to three Universal, Warner and Sony Music Entertainment a scenario that could raise regulatory concerns in the US and in the European Union.