Wednesday, April 21, 2010

Paul ditches EMI, joins Concord

The Wall Street Journal has the details.

In the latest setback for EMI Group Ltd., Paul McCartney has joined a parade of well-known artists headed for the exits at the struggling global music giant, handing world-wide distribution rights for his catalog of about 50 post-Beatles albums to independent record label Concord Music Group

For EMI, the impact of the move may be more symbolic than material but nevertheless marks a challenge for a fragile company.

Sir Paul has been out of contract with EMI for newly recorded music since 2007 and released his three most recent albums through other labels, including two on Concord. But in February he regained control of the vast library of albums he released between 1970 and 2006, both as a solo artist and as the leader of the band Wings. It is that catalog that he now is yanking from EMI.

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