ET TU, BRUCE?: But rumors that Bruce...

ET TU, BRUCE?: But rumors that Bruce Springsteen is about to fly the coop at Sony are untrue--at least in the immediate future, sources close to the rock star say. A report in the weekly New York Perspectives paper that claimed Springsteen was heading for Elektra Records triggered speculation in industry circles that the reason Springsteen released two separate albums last week was so that he could fulfill his obligations to Sony more quickly. Other insiders predict that Springsteen may make a move soon to Geffen, but that he will remain at Sony at least until he fulfills his contract, which includes delivering at least one more studio album.

MCA is losing another superstar, with the announcement last week that Elton John has signed a new worldwide deal with PolyGram. John’s albums are already distributed by PolyGram in most of the world, but they’re distributed through MCA in North America. PolyGram will also be acquiring John’s lucrative catalogue for North America once MCA’s rights expire. John still owes MCA two more albums before the new deal takes effect, though.

PolyGram is also reportedly on the verge of signing Lionel Richie.