Pet Shop Boys, Neil Tennant and Chris Lowe, have left Parlophone Records after 28 years and signed their forthcoming studio album Electric to Kobalt Label Services in a global deal.
The duo, who signed to Parlophone in 1985, have cloked up 42 Top 30 singles and four No.1s on the label.
Electric was produced by Stuart Price and will be released in June 2013. The band will embark on the “Electric” tour this year, which includes a night at London’s O2 Arena on June 18th.
Neil Tennant and Chris Lowe said in a statement: “This is a very exciting point in our careers. We are hugely proud of the new album and are very pleased to be working in conjunction with Kobalt. We’d like to thank everyone we’ve worked with at Parlophone over the last 28 years both in the UK and abroad.
"When we signed to the label in 1985 we had no idea how long and successful a relationship we were embarking on. However it is also exciting now to commence a new phase working with a new team in a new business structure and we look forward to a creative and equally fulfilling relationship with Kobalt.”
Parlophone Label Group is now temporarily independent ahead of Warner Music Group's £487m acquisition of the company, expected to be approved in the summer. PLG was a forced divestment of Universal's £1.2bn buyout of EMI Music last year.
Pick up the new edition of Music Week - with subscribers today - for more information on the Pet Shop Boys' move to Kobalt.