Prince re-signs with Warner Bros. and plans to re-release Purple Rain soundtrack

Prince has resigned with Warner Bros., the label he split from in 1996, after calling himself a "slave" to record bosses.

The move 18 years ago prompted the Purple Rain hitmaker to embark on a career as a symbol after dropping his moniker, and he went on to release a series of albums independently.

But it appears he's keen to forgive and forget after landing a new deal that will include full ownership of his back catalog and the re-release of his classic soundtrack album Purple Rain in time for the film's upcoming 30th anniversary in June (14).

Announcing the news in a statement on Friday (18Apr14), Prince says, "A brand-new studio album is on the way and both Warner Bros, Records and Eye (sic) are quite pleased with the results of the negotiations and look forward to a fruitful working relationship."

Warner Bros. Records chairman and CEO Cameron Strang adds, "Everyone at Warner Bros. Records is delighted to be working with Prince once again. He is one of the world's biggest stars and a truly unique talent. We are also very excited about the release of new and re-mastered music from one of his greatest masterpieces."