April 21, 2010 4:09 PM ET
Paul McCartney and indie label Concord Music Group have reached a deal to reissue Macca's solo and Wings catalog in a move that severs his relationship from his longtime label of nearly 50 years, EMI.
McCartney and Concord had previously teamed up for the 2007 Starbucks exclusive release of Memory Almost Full as well as the live album Good Evening New York City. "I've had a good working relationship with Concord," McCartney said in a statement. "I'm looking forward to continuing this relationship. I'm always looking for new ways and opportunities to get my music to people and Concord share this passion."
The first album to be reissued under the Concord deal is Wings' 1974 album Band on the Run, which will be released in August as a deluxe remastered edition with previously unreleased tracks from the era. Concord will also issue physical and digital versions of McCartney's solo albums (McCartney, Ram and Flaming Pie), the Wings discography and albums that McCartney recorded under the pseudonyms Percy "Thrills" Thrillington, Twin Freaks and his Fireman collaboration with producer Youth.
EMI, which has been in financial straits and could default on a $4.5 billion loan from its lender Citigroup, had reportedly been entertaining offers to license their historic back catalog in order to generate revenue, but any potential deal now would not include McCartney's post-Beatles output. The label, however, still maintains control of the Beatles' discography.
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