Coldplay Stick With EMI (For Now)

Reports that Coldplay were set to follow Paul McCartney and Radiohead out of the revolving EMI door, have been dismissed as wide of the mark by the label themselves.

The Daily Star apologised today, for printing "a misleading story" that indicated the band would be leaving EMI, after they had delivered their next studio album, rumoured to be called 'Prospekt' and due late 2008. The piece suggested that Coldplay would then follow that up with a 'Greatest Hits' LP.

This afternoon, however, NME have run a story quoting an EMI source who says that all is hunky dory with the band. They said: "In reality Coldplay are signed to a long-term record deal with EMI and are committed to produce a number of studio albums.

"The band's relationship with EMI is both long-term and very healthy and positive. Any suggestion to the contrary is incorrect and unfair on both parties."

Despite the denials, the speculation will continue, especially as frontman Chris Martin hasn't always seen eye-to-eye with his label bosses. Back in 2005, when 'X&Y' slipped a few months, thus denting EMI's stock market value, he was asked what he thought of the matter:

"I don't really care about EMI. I'm not really concerned about that. I think shareholders are the greatest evil of this modern world."

With the loss of McCartney and Radiohead, to lose the multi-million-selling Coldplay would be a further massive blow for EMI, who are this week, expected to announce a major shake up of their operations, including withdrawing from industry body the IFPI as well as announcing major job losses.