Pink Floyd and EMI signs new deal

Pink Floyd and its long time record label EMI have signed a new five year deal ,the company said on Tuesday. Last year Pink Floyd and EMI were involved in a legal battle over the label’s right to separate their albums and sell individual tracks online. The phenomenon will come as a relief to the label, which has lost high profile acts including Paul McCartney ,Queen, Radiohead and The Rolling Stones since EMI was taken over by private equity firm Terra Firma in 2007. Guy Hands of Terra Firma lost a court case in New York last year in which he accused Citi group Inc of bamboozling  him into overpaying for EMI.

Pink Floyd are one of the most important and influential bands of all time and I know I speak for everyone at EMI when I say that it is a privilege to have the opportunity to work with them,” EMI Group CEO Roger Faxon said in a statement.”We’re looking forward to continuing to help the band reach new and existing fans through their incredible body of work.” English rock band, Pink Floyd signed to EMI more than 40 years ago, are most famous for influential and acclaimed albums “The Wall,””Wish You Were Here,” and “The Dark Side of the Moon.” 1973’s The Dark Side of the Moon  sold 45 million copies and is the country’s third best selling album ever.

According to EMI, Pink Floyd has  sold over 200 million albums worldwide and in the United States alone.”All legal disputes between the band and the company have been settled as a result of this new deal,” EMI added in its statement.