Speculation is mounting that V2 Records, the label owned by Sir Richard Branson,
is joining the race to sign Robbie Williams, whose contract with EMI expired in
February. The label, which began five years ago, will reportedly be battling it
out against some of the world's biggest music groups, including Sony, Warner
Bros, Universal, and DreamWorks, to sign the singer.

Final bids must be submitted in the next two weeks, with a deal to be announced
in September. The Independent newspaper reported that V2 was a "surprise
entrant" into the bids to sign the highly bankable singer. But EMI is keen to
retain Williams, who has been one of the label's most successful acts of recent
years with a string of hit singles and albums. His most recent release was the
big band tribute album Swing When You're Winning.

EMI has had a rocky 12 months, cutting 1,800 jobs and suffering a string of
chart flops. Most notably, they paid Mariah Carey £38m earlier this year to
sever her contract after the failure of the Glitter album, the soundtrack to the
film of the same name in which she starred. Artists signed to V2 Records include
Moby, Stereophonics, The White Stripes and recent chart-toppers Liberty X.

Although the label was making losses, Branson refinanced it in April with the
help of investment bank Morgan Stanley Dean Witter, who took a 47.5% stake in
the company. Williams, whose contract is estimated to be worth £40m, is seeking
a complex deal which will enable him to have greater control over certain
aspects of his career. A spokesman for V2 told BBC News Online that the label
was unable to comment at the present time.








Source: BBC



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