Oasis and Sony BMG have inked a worldwide profit-sharing arrangement for the Brit band’s next three albums and their catalog.

Oasis has been releasing its music on its own label, Big Brother Recordings, in the U.K. since 2000. Sony BMG’s Epic imprint has distributed their music since their breakthrough in 1994, “Definitely Maybe.”

Sony BMG is calling the new deal the “first of this magnitude.”

Oasis’ seventh studio album is due out later this year.

“This new arrangement will empower Big Brother to market and release not only the new albums but also the historic catalog in many other countries of the world,” said Ged Doherty, chairman-CEO of Sony BMG Music Entertainment U.K.

Alec McKinlay, partner in Ignition management, who brokered the deal, said, “This allows the band to take advantage of all the opportunities presented by the new business models available today as well as remaining totally in control of their own destiny.”