In the early 1980s, Page and Rodgers were dealing with the demise of their respective bands, Led Zeppelin and Bad Company. Initially they wanted to form a band with Yes drummer Bill Bruford and bass player Pino Palladino, however, both had contract obligations other acts.
Page and Rodgers refused to play material by their former bands in favor of songs by The Firm plus tracks from their respective solo albums despite at least one performance of Midnight Moonlight featured sections of White Summer and Kashmir, originally recorded by Page's previous acts The Yardbirds and Led Zeppelin, respectively. Insofar as The Firm's material, they were heavily infused with a soulful and commercially accessible sound.
Despite refusing to play old material, the last track from The Firm, Midnight Moonlight (previously played at some of their earliest concerts and an unreleased Led Zeppelin originally titled Swan Song). The act split in 1986.