LOS ANGELES -- According to entertainment Web site CelebTV.com, Britney Spears has been dropped by her management company, The Firm.

A statement released to CelebTV.com reads in part, "It saddens us to confirm media reports that we have terminated our professional relationship with Britney Spears. We have represented Britney for the past month. We believe Britney is enormously talented, and has made a terrific record. But current circumstances have prevented us from properly doing our job."

Spears hired Jeff Kwatinetz of The Firm in August to help revive her flagging career.

Spears' record label, Jive, told CelebTV.com they were unaware of any change in management and did not anticipate any delay in the Nov. 13 release of Spears' new album.

Bodyguard Testifies In Custody Hearing

A new witness came forward Monday in Spears' custody fight, but Spears' attorneys did not pursue his claims.

Attorney Gloria Allred, representing former Spears bodyguard Tony Barretto, said that her client was ready to testify about Spears' nudity, drug use and safety involving the children.

She said that the incidents happened after Spears got out of rehab.

Allred said that Spears' lawyers chose not to cross-examine Barretto during a custody hearing in Los Angeles Monday.

Spears and her ex-husband, Kevin Federline, each are seeking custody of their two sons.

Federline attorney Mark Vincent Kaplan said reports that Federline wants custody to get more money are "unfounded."

Neither Allred nor Kaplan would give details on what happened during the closed-door hearing. Spears' attorneys could not be reached for comment.