Mariah Strikes New Deal

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."

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Song Stories

“My President”

Young Jeezy | 2008

Young Jeezy teams up with Nas on this track, in which he compare his own success with the idea of an African-American winning the Democratic Party's nomination in the 2008 presidential election. "When I pulled up in my car, that s--- was unbelievable to people in my neighborhood because they were like, 'We grew up with him. How the hell did he accomplish this?'" he told Rolling Stone. "I feel like it was the same way with Obama. I grew up all this time, but I've never seen a black man this close to running this country."

More Song Stories entries »

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