During the '90s, Prince was riding high after a string of amazing albums. However, it was his recording partner Warner Bros. that was benefiting the most from his musical genius. Per the terms of his typically unfair contract, all of his master tapes were the property of Warner Bros., meaning he would never actually own any of the music he wrote and recorded for them. Even worse, he still owed the company five albums before he would be allowed out of that deal. Prince was a prolific artist to say the least, and he had a ton of unused material burning a hole in his velvet pocket, so he figured he could just hand in five albums worth of songs and move on. Warner Bros. refused to accept the material, insisting that nothing in the contract obligated them to do so.
So, Prince became another person.
In 1993, he announced he was no longer Prince and would henceforth be working only as an unpronounceable symbol. He told WB he would still provide them with his mandatory Prince albums, but that they had no right to claim the output of this new creature, whom baffled journalists referred to as "The Artist Formerly Known As Prince," presumably because you can't say "Coconut f*****g A Trumpet" in most news outlets.
Warner Bros. Records
If you pronounced it as "fart noises plus angry Tasmanian Devil babbling,"
you were as correct as anyone else.