R.E.M. Entertains Offers: R.E.M., the hottest free...

R.E.M. Entertains Offers: R.E.M., the hottest free agent in the music business, has begun to consider offers to sign a new long-term agreement with several record companies, including DreamWorks SKG and Sony Music Entertainment. The Athens, Ga., superstar rock quartet, which delivered its last album on its Warner Bros. Records contract two months ago, started shopping a new deal around this week. The betting in the music industry is that R.E.M. will re-sign with Warner Bros., which can’t afford to lose the band after several years of corporate upheaval. Warner Bros. has the financial resources to outbid competitors and is the only label that can offer the band ownership over the master tapes of its last six albums.