Yahoo! Music, Jan 23, 2002 12:00 pm PST
(1/23/02, 12 p.m. ET) --
It's official--pop diva Mariah Carey has been let go by her record label, EMI's Virgin Records, with a $28 million payoff. Carey and EMI confirmed the move in a joint statement that followed weeks of speculation. The settlement ends Carey's multi-album, multimillion-dollar international recording contract, with a $28 million payout to the singer. She also gets to retain the $21 million previously paid to her when the contract was forged in April 2001.
Various media reports had estimated the full value of Carey's Virgin contract at between $80 million and $100 million. Carey's first album for Virgin, Glitter, was not as well received as her previous efforts, selling just two million copies worldwide. EMI made the decision to drop Carey in an attempt to cut costs at a time when overall music sales have dropped considerably. Carey said of her exit, "This is the right decision for me. I look forward to the many new and exciting opportunities, which have now been presented to me. I wish Virgin well."
Alain Levy, new chairman and CEO of EMI Recorded Music, added, "We have decided that this is the most prudent course of action for EMI. We wish Mariah the best." Carey was the top-selling female pop artist of the 1990s, and she has sold more than 150 million albums and singles worldwide, and earned 84 Recording Industry Association Of America gold, platinum, and multiplatinum certifications. Carey is scheduled to sing the national anthem at Super Bowl XXXVI at the Louisiana Superdome in New Orleans on February 3, and she will be accompanied by the Boston Pops.
-- Jason Gelman, New York
For more news at LAUNCH, click here.
Got news tips, comments, or questions? Send them to launchnews@yahoo.com.
More Artist News
Mariah Carey to begin tour on December 31
Dec 14, 2009 7:39 pm PST
Mariah Carey will launch her first North American tour in more than three years on December 31 at Madison Square Garden in New York City. The eight-week, 19-city "Angels Advocate" tour will wrap on February 27 at The Pearl Concert Theat...
Carey finds freedom being 'imperfect'
Sep 29, 2009 1:53 pm PDT
Lee Daniels had so much faith in Mariah Carey's acting that when the director's first choice to play a dowdy, no-nonsense social worker — Oscar-winner Helen Mirren — backed out, he quickly asked Carey to step in. But Daniels wa...
Mariah Carey returns to studio, delays album again
Aug 13, 2009 1:00 pm PDT
Originally scheduled for an August 25th release date and then September 15th, Mariah Carey's upcoming 12th studio album, has been delayed yet again. "Memoirs of an Imperfect Angel" will now arrive two weeks later on September 29th. A ...
Mariah Carey, Diddy, Lil Wayne albums delayed
Jul 27, 2009 2:50 pm PDT
Some of the most highly anticipated albums of the summer have been delayed, including Mariah Carey's "Memoirs of an Imperfect Angel," Sean "Diddy" Combs' "Last Train to Paris" and Lil Wayne's rock and roll album "Rebirth." C...
Whitney's Comeback Album Set for Fall
Jun 4, 2009 6:33 am PDT
Our long national musical nightmare is over. Mariah Carey's, on the other hand, is just beginning. After years of promised but undelivered singles, career-derailing reconciliations with Bobby Brown and, most recently, a string of po...
Loading...
-
I Want To Know What Love Is
Mariah Carey -
Obsessed
Mariah Carey -
Obsessed (Remix)
Mariah Carey -
Bye Bye
Mariah Carey
