OK Go forms Paracadute Records

Previously signed to EMI; inks distribution deal with RED

NEW YORK -- In the wake of their departure from EMI, OK Go has formed a new label, Paracadute Records, and signed a distribution deal with RED.

The band's latest album, "Of The Blue Colour of the Sky," which was originally released on Capitol in January 2010, will be rereleased via Paracadute/RED in July with two additional tracks.

 The deal does not include any of the band's previous catalog.