Legendary rocker Prince has announced the terms of a new contract with Warner Bros. Records. The deal will include the re-release of Prince’s renowned album, Purple Rain, as well as a forthcoming new release of previously unheard material. The contract also gives Prince the rights to his major hits.

This is most likely in response to the recent announcement that Prince was forming his own music publishing group. Instead, the licensing for Prince’s major releases will be given to Warner Bros., who in turn plan to re-issue Purple Rain in honor of the album’s 30th anniversary.

According to Prince: “A brand-new studio album is on the way and both Warner Bros. Records and Eye are quite pleased with the results of the negotiations and look forward to a fruitful working relationship.”

Looking forward to the new music!

-David Melamed (@DMelamz)