Report: METALLICA's Next Album To Be Released Through WARNER BROS.
According to an article in today's Los Angeles Times, METALLICA have struck a deal to have their next — and final — album under their present Elektra contract marketed and promoted by Warner Bros. Records. The move will take place as part of Warner Music Group's efforts to consolidate its major East Coast labels, Atlantic and Elektra, according to the article. About 50% of the labels' combined roster of about 170 acts will be let go.
Lyor Cohen, Warner Music's U.S. chief executive, declined to detail the roster cuts but said, "The tipping point of whether an artist remains is the company's passion to market and promote them. Everyone that remains we're going to be insanely passionate about."
The roster review comes as part of a broader effort by Warner Music's new owners, including its chairman, Edgar Bronfman Jr., to cut more than $200 million in costs.
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