Mariah Carey to Remain with Virgin

01/07/2002 at 01:00 AM EST

Forget those stories that Mariah Carey, fresh from the disappointing performance of her CD "Glitter," is about to be bought out of her recording contract with the EMI Group Plc., the parent company of Virgin Records, reports Reuters. "EMI wishes to make clear that it has made no such payment or agreement," the company said in a statement released Monday. Some stories said that Carey, 31, was to receive upwards of $50 million to sever her relationship with the label, which last year took her into its fold in one of the most expensive deals in the recording business, said to have been worth $80 million for four albums. Then "Glitter" tanked, selling only two million copies. In the '90s, Carey, then recording for Sony (where her then-husband, Tommy Mottola, remains in charge), was the top-selling female singer, with more than 140 million albums and singles sold. Yet on July 25, barely a month before the September release of her first starring movie, "Glitter," and an accompanying CD, Carey was admitted on July 25 to a Westchester County, N.Y., hospital suffering from what her publicist, Cindi Berger, called "an emotional and physical breakdown." The movie's premiere was subsequently postponed, though it quickly faded from view once it did open. Rumors of breaking Carey's contract began circulating after the EMI executive who signed her recording contract, Ken Berry, was forced out of the company and replaced by another exec, Alain Levy, according to Reuters.

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