Alan McGee, the founder of Creation Records, has been told he could have had his phone hacked by News of the World.
He was informed in a letter that officers from the Metropolitan Police service's Operation Weeting are now investigating his case further.
“If the police confirm that I have indeed been hacked, and even though this will of been years ago, I will still sue,” he exclusively revealed in a blog for The Huffington Post UK.
“I can't abide News of the World so I won't be losing sleep in suing them.
“The joke to me is that in the period they are talking about, whoever would have had the pleasure to get into my voicemail on the mobile would have just been faced with hour long Courtney Love rambles from LA about her new songs.”
Around 2005, when many of the phone hacking cases are alleged to have taken place, McGee was known as one of the most influential people in British music.
Previously he had been central to the success of Britpop after signing Oasis to his record label.
In recent weeks phone hacking has started to make its way back up the news agenda after a series of new developments.
Last week detectives revealed 2,000 more people were possible victims of phone hacking than previously believed. It means the estimated number of victims is 5,800.
Tony and Cherie Blair’s former lifestyle guru Carole Caplin was the latest high profile figure to reveal he phone had been hacked.
Also a slew of new evidence was released which suggested key figures at News Of The World knew the practice went beyond a "rogue reporter".
According to a memo from former legal chief Tom Crone to then editor Colin Myler there was "damning" evidence in 2008 which showed the extent of attempts a reporter at the paper made to intercept the voice mails of the Football Association’s Gordon Taylor.
It sets out "fatal" evidence about journalists who had infringed "data protection," claimed the documents.
Tom Watson, the MP central to chasing down the phone hacking inquiry, has described new evidence against News Of The World as "devastating".
On Thursday James Murdoch will face MPs again for on the Culture, Media and Sport select committee for further questioning.