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Linkin Park Sign $15m Deal With Warner
Despite slagging off their label Warner Music in May, Linkin Park has resigned with the record company for a staggering $15 million advance by 20% royalty share.
The band released a bitter statement in May saying "The new owners of the Warner Music Group will be reaping a windfall of $1.4 billion from their $2.6 billion purchase a mere 18 months ago if their planned IPO moves forward. Linkin Park, their biggest act, will get nothing".
It continued "Linkin Park has been responsible for approximately 10% of the entire Warner Music Group's record sales, selling over 35 million records worldwide in just 5 years. After reading numerous and daily articles about how WMG executives and corporate raiders have ridden the coattails of the creative community to extract massive rewards, Linkin Park has become increasingly offended and discouraged".
Now all is forgiven. The deal gives Warner the option for five more albums from Linkin Park.
The first of the new albums will be released in early 2006.
Meanwhile, LP's Mike Shinoda has just released an album as Fort Minor through Warner.
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