The Rolling Stones played down a report that the band was setting to leaving long-time record label EMI to join concert promoter Live Nation Inc.
The Observer newspaper reported Sunday that the Rolling Stones were on the verge of ending their 30-year relationship with EMI and were set to ink a deal with Live Nation.
“We are not in talks with Live Nation in connection with any record deal,” London-based Rolling Stones spokesman Bernard Doherty said Monday, reading from a statement.
The report said the deal would also allow Beverly Hills-based Live Nation to market the legendary group’s back catalogue.
The report comes as the New York Post reported last month that rapper 50 Cent was mulling a deal with Live Nation.
Live Nation already has deals with Madonna and Jay-Z, reportedly worth $120 million and $150 million, respectively, as the company has pushed to make itself a one-stop shop for large acts cutting records, looking to tour and sell merchandise.
Shares in Live Nation closed up 2.5 percent to $13.43 Monday.