Virgin Partners with Korn
Rock band Korn signed a major deal with EMI Music. Korn will now be a part of Virgin Records which is owned by EMI. The deal gives EMI Music Group a managerial type of role with the band, similar to the one the company made with British singer Robbie Williams. EMI will get twenty-five percent of the band's music publishing, touring, and merchandising profit. The company will also take in some money from CD sales. Korn in return will receive $15 million upfront. Lead singer Jonathon Davis said of the union, "I always felt like I was working for a record company. Now I feel like we have a true partner. I'm looking forward to this new chapter in our career."
Korn is set to release their latest album by the end of the year. The upcoming album will be the first Korn album to be released on Virgin Records.
