EMPIRE confirmed as Iggy Azalea’s new record label

San Francisco based EMPIRE Records is Iggy Azalea’s new global record label.

As reported by TMN on Monday, Azalea excitedly tweeted the news of the signing saying that the official announcement would follow this week revealing the identity of the label.

"I’m so excited to begin a new entrepreneurial chapter in my career with EMPIRE as my partner," she said in a press release issued overnight.

“The ability to have control of my own artistic future is a long-awaited and monumental change in my life.

“I genuinely feel I am in the best position to achieve my creative ambitions.”

Having cleared the slate with her departure from Island Records, the Australian-born MC is relocating to Atlanta to finish work on new music.

In her tweets, Azalea said she is now 100% independent, that the deal was worth US$2.7 million, and it would allow her to sign other acts.

The record label has declined to comment on the $2.7 million figure.

EMPIRE was set up in 2010 by technology graduate Ghazi Shami as a label, publishing company and distributor.

It is home to Tyga and Lloyd and previously released music by Brockhampton, Shaggy and XXXTENTACION.

EMPIRE will be overseeing "the release and promotion" of new music from Azalea which includes her long-awaited follow-up to 2014's The New Classic.

Shami said in the announcement: "We’re excited to welcome Iggy to the EMPIRE family.

"Over the years, I’ve admired Iggy’s artistry, honest and direct relationship with her fans and tenacity as a businesswoman.

“I’m honoured that we will have the opportunity to build upon her already exceptional career."