*Prince now owns the rights to the music he recorded on Warner Bros. Records after years of disputes with the label caused him at one point to scrawl “slave” on the side of his face and change his name to a symbol.
Warner Bros. announced Friday that it has resigned Prince after reaching an agreement with the singer, who recorded for the label from 1978 to the mid-1990s, releasing key projects like “Purple Rain,” ”1999″ and “Around the World in a Day.”
Prince’s new deal includes full ownership of his back catalogue and a 30th anniversary re-release of his classic soundtrack album “Purple Rain” in June.
Announcing the news in a statement today, Prince said, “A brand-new studio album is on the way and both Warner Bros, Records and Eye are quite pleased with the results of the negotiations and look forward to a fruitful working relationship.”
Financial terms weren’t disclosed.
Warner Bros. Records chairman and CEO Cameron Strang added, “Everyone at Warner Bros. Records is delighted to be working with Prince once again. He is one of the world’s biggest stars and a truly unique talent. We are also very excited about the release of new and re-mastered music from one of his greatest masterpieces.”
Warner Bros. also said the 55-year-old singer would release “previously unheard material” from his tenure on the label.
Prince added in the statement that he’s also working on new music apart from Warner Bros.