Coldplay are set to follow in the footsteps of Radiohead and Paul McCartney by becoming the latest major act to leave record label EMI.
The band have a five album deal with the UK based label and will release their fourth LP this summer.
However, they are also said to be planning the release of a greatest hits CD in 2009, which will fulfil their obligations with EMI and allow them to sign a new contract with another label.
Paul McCartney and Radiohead recently left EMI, which has lost a number of acts following a major takeover by equity firm Terra Firma last summer.
A source told the Daily Star: "There's so much uncertainty in the record industry right now. The boys don't necessarily need a label any more. They aren't even considering putting pen to paper on any type of contract until they see what happens."
