Madness have signed a one record deal with V2 Records. Here's the announcement from the band's website:

After a lengthy bloody and fierce bidding war frenzy between all the major players in the UK music industry Madness have finally signed a one album deal with V2 records at about 2.00pm GMT today [Oct 8th].The album will consist of of reggae and ska covers and will be due for delivery in April 2005. Further details to follow as soon as they happen.