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Veteran rock band Queen have signed a new record deal, which will see remastered versions of all their albums being re-released next year.

The deal, which has been agreed with Universal, ends their 40 year partnership with EMI.

"We are very excited, after all this time, to be embarking on a new phase of our career," said guitarist Brian May.

The late singer Freddie Mercury and the rest of the band had hits with We Will Rock You and Bohemian Rhapsody.

Mercury, who passed away in 1991, became known for his flamboyant stage persona.

Next year the band celebrates its 40th anniversary and the celebration will be marked with the re-release of their first five albums being available in March.

"We aim to apply fresh thinking and innovation to the marketing and promotion of this great body of work," said Universal boss Max Hole.

The move is a further blow to EMI, which has lost other popular artists including The Rolling Stones, Paul McCartney and Radiohead since the group was taken over by private equity firm Terra Firma in 2007.