Supposedly, Martin had no intention of signing the Beatles after listening to the Decca recordings, but he offered a contract after learning that Epstein would cancel all his substantial NEMS business with EMI. Martin denied this account by saying that Epstein's conviction that the Beatles would become internationally famous finally convinced him to offer a recording contract. He also later admitted that EMI had "nothing to lose" by signing a contract with the Beatles, as the terms of payment were negligible. At this point, almost every other British record company had rejected the group, and Martin had never heard the group live. The Beatles were eventually signed to EMI's small Parlophone label, which had very little experience with pop or rock artists. Upon signing the contract, Epstein immediately sent a telegram to the Beatles (who were in Hamburg) and to the "Mersey Beat" music journal in Liverpool.