Prince inks new record deal with Warner Bros

Washington: Prince has signed a major new record deal with Warner Bros.

The 55-year-old American singer-songwriter has signed on with Warner Bros nearly 20 years after their feud where he wrote "slave" on his face in an act of protest against his contract with Warner Bros, Contactmusic reported.

The 'Free' singer issued a statement revealing that a brand-new studio album is on the way and both the parties are pleased with the results of negotiations and look forward to a fruitful working relationship.

According to the deal, Prince will also regaining the rights to the master recordings made during his past contract with the label.