New Coldplay album coming in May?

Could Coldplay’s Brian Eno-produced fourth album be out this spring? Some UK-based online retailers have already listed the album with a May 19 release date and the title Prospekt, and sources close to the band tell Hollywood Insider that an announcement is imminent. Frontman Chris Martin said late last year that the band was very close to finishing the record, which would clock in at 43 minutes. Our sources say that the record will see a proper physical release (as in a CD, not just digital download) via EMI.

The band is expected to make an official announcement about the new record on their website, coldplay.com, some time this week, following a major announcement from EMI. On Tuesday, the company plans to lay out a strategy involving massive cut-backs to its work force in the label’s latest attempt to streamline its business. Guy Hands, whose company Terra Firma took over EMI last year, will address employees via teleconference. “Everyone is bracing themselves,” says an EMI insider. “Potentially, there will be a sizable shredding of artists, especially bands that are underperforming, as well as consolidation and centralization of the creative and business sides.” Likewise, adds the source, a band like Coldplay would “probably want to wait and see how things shake out before announcing their next album.” A spokesperson for Capitol Music Group, the band’s U.S. label, says, “The band is still in the studio. No official release date has been set.”