Glittering Again: Mariah's New Deal
It's a quick comeback for Mariah Carey, who was publicly -- though profitably -- dumped from her from her label, music giant EMI Group's Virgin Records, in January. The dispossessed diva, 32, has signed a new deal with Universal Music Group's Island/Def Jam Records that includes her own label, reports the Associated Press. Terms of the deal were not disclosed. The label (which is not yet named) will mainly focus on Carey, but in the future could include other artists, Jerry Blair, a former Columbia Records exec who has worked with Carey since the beginning of her career, told the news service. "Setting up this company for her is really guaranteeing her legacy," he said. Other companies reportedly were also wooing Carey, despite the personal and professional problems that plagued her last year. "There are three or four big labels aggressively pursuing her," Carey's spokeswoman told Reuters on April 11. Besides Vivendi, they reportedly included AOL Time Warner's Elektra Entertainment Group (AOL Time Warner is the parent company of PEOPLE) and J Records, run by music industry icon Clive Davis. Under her buyout deal with EMI, Carey received $28 million to walk away and retained another $21 million paid to her when the contract was first signed in April 2001. The severance package arrived after the flameout of her first album on EMI's Virgin label, "Glitter," last fall, at about the same time that her movie of the same name bombed at the box office. That, in turn, came soon after she had suffered a physical and emotional breakdown.
On Newsstands Now
- Matthew McConaughey: The Time of My Life!
- 45 Pages of Oscar!
- The Pistorius Trial: Why Did He Kill Her?
Pick up your copy on newsstands
Click here for instant access to the Digital Magazine