Prince manager Kiran Sharma said in a statement: "We are pleased to announce that Prince and Universal have reached a mutual agreement in terminating their long standing publishing deal.

"It is an exciting opportunity for Prince to consider fresh and new ideas for all his music."

UMPG and Prince renewed their long-term worldwide deal in 2005. The agreement covered administration of Prince's numerous future works and his complete back catalogue of more than 35 albums and compilations including multi-platinum albums ...