The Rolling Stones are reportedly preparing to sign a recording contract with concert promoter Live Nation. The veteran rockers are believed to have left their current label EMI after their contract expired in February and are in talks with the promotion giant about a recording and promotion deal. The Observer is reporting that the group is in the midst of signing the deal which would allow them to take over marketing for the group’s back catalogue as well as take control of touring and merchandising rights. The deal is reported to be similar to the one Live Nation recently signed with Madonna which was worth an estimated $120 million over 10 years.