Mariah to start new label
From Worldpop news:
Mariah Carey is reported to be looking to start her own record label. The R&B crooner has been without a label since January. Virgin Records terminated her deal after Mariah's soundtrack for the movie Glitter flopped. Carey reportedly received a record $49 million payout to leave the label.
The star's attorney, Don Passman, said that the label, 'will not only feature Mariah's talents, but other artists' too.' Madonna's successful Maverick label was apparently the inspiration behind the idea.
If Carey decides to form her own company it will be her second chance at managing a roster of artists as well as her own career. In 1997 Carey created Crave Records with her previous label, Sony Music. Crave was home to acts such as Allure, 7 Mile, and S.O.A.P.
However, Crave was shut down one year later when Carey divorced her husband, Sony Music boss, Tommy Mottola.
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