08 January 2002
EMI Music have denied reports that they cashed in their un-used chips and paid out Mariah Carey's current recording contract after her most recent album, 'Glitter', did anything but.
Recent reports suggested EMI had agreed to pay Carey off with much as $50 million after its Virgin label signed the star in one of the most expensive recording deals ever, only to see her 'Glitter' sell a mere 2 million copies.
'EMI wishes to make clear that it has made no such payment or agreement,' EMI said in a statement.
EMI whose stable also includes greats like Robbie Williams and Kylie Minogue were bagged for signing Carey for a believed deal of around 150 million dollars (Australian) for a four album deal. Many considered Carey to already be past her prime, then her current breakdown and subsequent visit to the mad house didn't help either.At the time, EMI justified the deal as building much-needed U.S. market share with the best-selling female singer of the last decade, who has sold more than 120 million albums.
'Glitter' was delayed after Carey suffered a breakdown last year and was then released on Sept. 11. Ill health also prevented Carey from promoting the album, resulting in a huge loss for EMI. Carey's previous albums such as Music Box have sold as many as 20 million copies.