The Rolling Stones are in talks to sign a new ground breaking deal with the concert promoter Live Nation, it's been reported.

The deal, which would see Live Nation market the bands £3million a year back-catalogue and future touring rights, would effectively end the Rolling Stones 31-year relationship with EMI Records.

Any deal would be a huge blow for EMI and the label's new owner, private equity company Terra Firma.

Since Terra Firma took over at EMI last year the label has already lost two of its biggest acts, Sir Paul McCartney and Radiohead.

According to a report in the Observer newspaper, Live Nation's deal with The Rolling Stones could be announced within the next fortnight.

The concert promoter have already struck high-profile all-encompassing deals with Madonna and Jay-Z over recent months.

(by Jason Gregory)