Graham Denholm/Getty Images
Jessica Goodman
August 24, 2015 AT 12:32 PM EDT

Bon Jovi has been with Mercury Records for 32 years, but the band will leave the label, Jon Bon Jovi told Billboard. “It is the end of an era,” he told the magazine.

Fans who have listened to Bon Jovi’s new “fan album,” Burning Bridges, which came out Aug. 21, may have already suspected that was the case, as the album’s title’ track disses Mercury Records head-on. Bon Jovi sings: “After 30 years of loyalty, they let you dig the grave / Now maybe you can learn to sing or strum along / Well I’ll give you half the publishing / You’re why I wrote this song.”

Burning Bridges was intended to be promoted alongside the band’s upcoming Southeast Asia tour, but Bon Jovi told Billboard, “[It fulfills] a commitment to Mercury Records. After 32 years, we have parted ways. That is the big news. If you listen to ‘Burning Bridges,’ the song, it is clearly spelled out.”

As for life post-Mercury, Bon Jovi told Billboard the band would release a new album likely in Spring 2016. Head to Billboard for more.

Check out “Burning Bridges.”

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