Sony and Aerosmith sign pact

August 15, 1991|By New York Times News Service

Sony Music has signed the rock group Aerosmith to one of the largest contracts in the record business: about $30 million for four records, people involved in the negotiations report.

The deal comes shortly after Sony signed Michael Jackson to a five-record, $25 million contract. The other major contracts in the industry have been Janet Jackson's $32 million contract for three records with Island Records and the Rolling Stones' $25 million contract with CBS Records, signed in 1984.

Aerosmith, one of the world's most popular hard-rock bands, has sold more than 25 million albums since it was formed in 1970.

The group's most recent album, "Pump," has sold nearly 6 million copies.

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