London, Jan 17 : Sir Mick Jagger and The Rolling Stones have become the latest stars to leave crisis-stricken record label EMI.
The band is currently in negotiations to renew their contract with the music industry giants before their five-year deal runs out in May but the financier at the label did not make enough on an impression to persuade the group to commit to a new deal.
In addition, reports are also making rounds that frontman Jagger is unimpressed with the turmoil at the company and is now looking for a deal elsewhere.
EMI were bought out last year (07) by capital group Terra Firma and the label has since seen the exit of a host of important artists including Radiohead and Sir Paul McCartney. The company also announced it is preparing to cut up to 2,000 staff in a bid to reduce costs, reports TimesOnline.
The Rolling Stones are not the only artists to express their discomfort at the label - The Verve, Coldplay and Robbie Williams are also alleged to be delaying the release of their new albums until they receive reassurances from the firm.