MAVERICK FACES MAJOR CHANGES

Sources insist Maverick Records will undergo a restructuring in the near future. The joint venture was first funded by Warner Bros. in 1992 as a label for the star, but soon grew into a powerhouse on its own, boasting such acts as Alanis Morissette, Deftones, Prodigy, Candlebox and more recently, singer-songwriter Michelle Branch and rockers Tantric.

WMG boss Roger Ames continues to restructure the music group. Insiders are now saying his philosophy is that much of what Maverick does can be accomplished by the existing Warner/Reprise staff. That is the decision he's reportedly reached with Warner Bros. chief Tom Whalley and label principals Guy Oseary and Ronnie Dashev.

Conventional wisdom sees Maverick continuing as a WB joint venture helmed by Oseary and Dashev, but functioning primarily as an A&R source. Some say the process could take place pretty quickly.

Maverick has enjoyed some recent success with albums by Branch, now over 250k, and Tantric, whose album is approaching 500k in sales. The label's biggest all-time seller is Morissette's 1995 debut, Jagged Little Pill, which sold 28 million worldwide, 13.9 million in the States. Her follow-up, '98's Supposed Former Infatuation Junkie, sold 7 million worldwide. The singer-songwriter's highly anticipated new album, Under Rug Swept, is slated for release on February 26.