Singer could walk away...

Reports indicate that David Bowie could be set to leave beleaguered record label EMI.

It's not been a good period for EMI. The stricken major label is suffering from enormous financial losses, with figures from the company last year suggesting that EMI had lurched some £1.75 billion into the red.

Investors were asked to inject £105 million into the ailing company, with the bulk of its problems centred on the music-making aspect of the business.

Managing to hold onto some big names - including Coldplay and Lady Gaga - EMI suffered the loss of some iconic talent. Robbie Williams parted company with the label, with reports indicating that he was unhappy with the way the institution was being run.

Now David Bowie could be set to leave EMI. Reports in the Financial Times indicate that the legendary songwriters record deal runs out in January, and there are serious doubts over whether Bowie will remain on the label.

If David Bowie were to leave, the move would come as a major blow to EMI. An artist of undoubted stature, the singer has an association with the label which stretches back some 15 years.

Already the remaining major labels are queuing up to court the songwriter, with both Universal Music and Sony Music said to be in talks with Bowie.

Of course, this depends on David Bowie choosing to make new music. The singer last released new material in 2003, with his last live performance coming in 2006.

Since then, the singer has battled health problems and taken time away from the spotlight. Now living in New York, David Bowie biographer Paul Trynka suggested earlier this year that the singer's career hiatus could become permanent.

EMI have declined to comment on the reports.

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