Coldplay, Pink Floyd and Kylie Minogue to Be Dropped From Label

Coldplay, Pink Floyd and Kylie Minogue are to be dropped by their label.

Troubled British record company EMI is undergoing a takeover by Universal Music Group, and the European Commission ruled today it can go ahead on condition it sells off most of its smaller record labels.

Acts who will now find themselves without a parent label include David Guetta, Tinie Tempah, Gorillaz, Cliff Richard, David Bowie, Tina Turner and Duran Duran, who are all signed to Parlophone. Chrysalis - home to Depeche Mode and Moby - will also have to go, as will Mute, home to the Ramones and Jethro Tull.

One act EMI will be keep are The Beatles, a hugely lucrative band, who still sell millions of albums even though they split in 1970.

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Gallery: Coldplay, Pink Floyd and Kylie Minogue to Be Dropped From Label

The Hot Concert Tours of 2008

Clearly the economic woes have not been felt by all.

In 2009, Madonna earned over $280 million in ticket sales worldwide. (That’s enough to pay several divorce settlements.) The success of the Sticky & Sweet tour made the singer the best solo draw of all time. (She beat the previous record set by herself in 2006.) The 50-year-old also became the top concert attraction in North America this year.

Here are the Top Ten North American tours of 2008:

1. Madonna ($105 million)
2. Celine Dion ($94 million)
3. The Eagles ($73.4 million)
4. Kenny Chesney ($72.2 million)
5. Bon Jovi ($70.4 million)
6. Bruce Springsteen & the E Street Band ($69.3 million)
7. Neil Diamond ($59.8 million)
8. Rascal Flatts ($55.8 million)
9. The Police ($48 million)
10. Tina Turner ($47.7 million)

Read More | E! Online

Gallery: The Hot Concert Tours of 2008