Mariah Strikes New Deal

Carey signs contract with Island/Def Jam

Mariah Carey has signed a contract with Universal Music Group label Island/Def Jam, which will distribute Carey's future albums produced under her own, as-yet-unnamed label. The deal is reported to be for a minimum of three albums and worth $20 million.

Carey, who has sold more than 140 million albums and singles worldwide, has been without a label since January when Virgin Records bought back the singer's $80 million dollar contract. It cost the label $28 million to buy Carey out after the soundtrack to her debut film Glitter failed to live up to Carey's previous blockbuster releases.

"I'm incredibly happy," Carey said in a statement. "It's a tremendous and unprecedented opportunity to be working in tandem with [Universal Music Group Chairman/CEO] Doug [Morris], [Island/Def Jam President/CEO] Lyor [Cohen] and [Interscope Geffen A&M Chairman] Jimmy [Iovine], and to have the benefit of their powerful international forces led by [Universal Music International Chairman] Jorgen Larsen. They have collectively helped redefine pop music, and I am excited to be part of their family."