U2’s McGuinness: We’re Sticking With Universal

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U2 is not leaving Universal Music Group, according to recent comments by longtime manager Paul McGuinness.

The development follows a rumor published by Fox News indicating otherwise.  “This is untrue,” McGuinness emailed Hits Magazine.  “As I said in my Midem speech, U2 has an excellent relationship with Universal.  We have recently relicensed both masters and copyrights to them.”

The rumor was fueled by a string of high-profile, major label defections, including those involving Radiohead, Madonna, and the Eagles.  U2 is signing a four-album deal, according to the report.

Story by news analyst Alexandra Osorio.