Platinum-selling hard rock act Tool and its representatives are in negotiations with Freeworld Entertainment, formerly Volcano Recordings, to determine if "the label properly exercised its option" for the band's next album, a source confirms. If negotiations break down, look for Tool to shop for a new label and Freeworld to file a breach-of-contract lawsuit, the source adds. A Freeworld spokesman says Tool is still under contract with the label but declined to comment further.
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