Report: QUEEN Leaves EMI To Join UNIVERSAL

May 10, 2010

According to Times Online, veteran rock band QUEEN has quit the beleaguered music label EMI for its rival Universal.

QUEEN, which been with the heavily indebted British label for almost 40 years, is believed to have been lured to Universal with a new contract worth tens of millions of pounds.

People familiar with the situation said yesterday that QUEEN had moved to Universal primarily for the money. "EMI just decided they couldn't compete. It was too much to pay and they want to spend that money on developing new talent," one music industry insider said.

Another person close to the deal said that QUEEN, whose "Greatest Hits" has sold 5.4 million copies, making it the U.K.'s highest-selling album, would not move to Universal immediately. The band, whose former lead singer Freddie Mercury died in 1991, is expected to see out their contract, which expires at the end of this year.

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