Chris Martin has confirmed there will no longer be a new Coldplay album before the year is out, and that does not make his cash strapped company EMI happy.

"There ain't gonna be a release for Christmas now that is for sure,” reports coldplaying,com. “Chris (Martin) said that although they are close to finishing lots of songs, they have not actually finished anything at all yet... (even Wedding Bells!) and he said there'd be no chance of the album coming out for Christmas. Phil (Harvey) said the same, and that even if they were finished by now, there would not be enough time for EMI to sort all of the "fiddly bits". Also, I asked about how long the tour would be starting, after the album release, since for Viva it was really soon, and Phil said that they'd leave a slightly longer gap this time."

EMI needs a new Coldplay record desperately. This week, the company fired three major executives in its never-ending attempt to reinvent itself. EMI MUSIC COO RONN WERRE, New Music International Pres. BILLY MANN, and New Music/NORTH AMERICA, U.K. and IRELAND Pres. NICK GATFIELD had their heads chopped off this week.

According to coldplaying.com the last two months have not been as completely productive as first imagined. But he also said 'You can't rush things like this!'"

Coldplay fans will have to wait until 2011 for the fifth Coldplay album since 1999. For the record, the entire Beatles career (and all 13 studio albums), happened over 8 years.

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