"U2 has found what it's looking for--a new home.
The Irish rockers have decided to bolt Universal Music Group's Island Records, the label formerly owned by music impresario Chris Blackwell, who launched the band's storied career over a quarter-century ago, and take up residence at Universal's Mercury Records.
The split was said to be amicable and reportedly came about because of U2's desire to maintain its relationship with music executive Jason Iley, who transferred from Island to Mercury last year.
"We foster strong relationships at Universal Music," a UMG spokeswoman told Reuters. "We have the best artists and the best executives and we're proud of how closely they work together."
The rep rejected earlier reports in British newspapers that U2 was unhappy with Island executives "hands-off" approach toward the band, which has sold upward of 170 million albums worldwide, has won 22
Grammys and has been inducted into the Rock and Roll Hall of Fame.
After gaining a cult following gigs in their hometown, Dublin, and London in the late '70s and the release of a couple of 12-inch singles, U2 signed with Island in March 1980. Six months later, the label released the band's landmark debut, Boy, and the rest, as they say, is history..."
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