PRINCE: Announces New Music Partnership

Prince has signed a new partnership deal with Kobalt Music Group. The soul-rocker, long known for his difficult relations with record companies -- and digital outlets such as YouTube -- will also produce other artists.

In a statement, Kobalt president Richard Sanders says, "This new venture gives Prince the flexibility and freedom he's always sought in a label partner. We're providing a high level of diverse services that will be particularly customized to his vision for each release, allowing the world to experience more music from Prince and his creative community."

No specifics regarding specific songs or albums was included in the announcement.