The Backstreet Boys have parted ways with their longtime record label after 16 years on the roster.
The boy band signed to Jive Records in 1994 and released seven albums through the label over the years. They have now announced their departure from Jive in a post on their official website, titled "Freedom," which dismisses rumors they were dumped from the books because of falling album sales.
The post reads, "So the news is out! The Backstreet Boys are no longer signed to long time record label Jive Records. The amicable split is very exciting for the group. "
Band member Brian Littrell adds, "This is the best thing, at the best time that could have ever happened for us. We are confident in the future of our band, and are looking forward to the new things to come. 2011 is going to be a great year for us."