London
– Welsh singer-songwriter and television host Charlotte Church has signed a $3
million deal with investment fund Power Amp Music to finance the recording of a
new album, the Financial Times reported.
For its investment, Power Amp gets 50%
of gross revenue from Church’s recordings, publishing, merchandise and touring for
an undisclosed period.
"[The deal] provides me with a financial commitment
equivalent to that of a major record company but with a much greater degree of
control and ownership over my career," Church told FT.com.
Church parted
ways with her former label Sony Music in 2006, after selling 10.5 million
albums worldwide.
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(Financial Times)
