EMI seeks to buy out Mariah Carey contract-report
It didn’t take long for the glitter of pop diva Mariah Carey’s new multimillion-dollar record deal with EMI Group Plc to lose its luster. Three months after the commercial flop of her first EMI release, the British-based music giant is seeking to buy out Carey’s contract by offering her a huge lump-sum payment in exchange for her departure from EMI’s Virgin Records label, the Los Angeles Times reported Wednesday. The Times put the value of Carey’s EMI contract at $80 million for four albums, although other reports have said she signed for as much as $118 million for five albums.… Read more »