On 6th January 1977 EMI Records decided that they couldn’t handle the Sex Pistols. The company dropped them from the label and gave them a parting gift of £40,000 to cancel the contract. They were later dropped by A&M before eventually signing with Virgin. The incident did lead to the fabulous punk track “EMI” included on the Pistols first and only album ‘Never Mind The Bollocks Here’s The Sex Pistols’
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