Prince and Warner Bros, Records seem to have put their differences aside.

It has been 18 years since the 55 year-old music star wrote "slave" on his face when protesting his contract with Warner Bros. Records, but both parties have agreed a new deal.

For Prince's fans, this new partnership has a very exciting future.

The record label will digitally remaster previously unheard material for the 30th anniversary of his iconic album 'Purple Rain', and be put on a deluxe edition.

To follow will be more re-released hit tracks and a completely new album.

"A brand-new studio album is on the way and both Warner Bros Records and Eye are quite pleased with the results of the negotiations and look forward to a fruitful working relationship," Prince said in a statement, via Billboard.

"Everyone at Warner Bros. Records is delighted to be working with Prince once again: he is one of the world's biggest stars and a truly unique talent" Warner Bros. Chairman and CEO Cameron Strang added in a statement. "We are also very excited about the release of new and remastered music from one of his greatest masterpieces."

Prince and Warner Bros began to butt heads in 1992 when the label wouldn't release the Grammy Award winning artist's songs at his pace, and in 1995 he changed his name to an unpronounced love symbol.

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Their partnership needed shortly after he wrote slave on his face when appearing at the BRIT Awards in 1995. "People think I'm a crazy fool for writing 'slave' on my face," he told Rolling Stone in 1996. "But if I can't do what I want to do, what am I? When you stop a man from dreaming, he becomes a slave. That's where I was. I don't own Prince's music. If you don't own your masters, your master owns you."

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But under the new deal, Prince will now have ownership and control over the master recordings of his Warner Bros. catalog. "The financial terms of the agreement were not disclosed," a Warner Bros. press release said.

Prince will release a new album under the renewed deal