When EMI signed Mariah Carey to a four-album, $80-million deal last spring, it expected the diva to bring in some cash to the company, like she previously did with Sony. Now, the record label wants out.

Carey’s first release with EMI?s Virgin Records, the soundtrack for “Glitter,” has sold a miserable 2-million copies worldwide, compared to 20-million sold for the 1993 album, “Music Box.” According to the Los Angeles Times, EMI has lost an estimated $10-million on “Glitter,” and consequently wants to reach a settlement with Carey to buy out her contract.

According to the paper, EMI was to provide Carey with $20-million per album, $6-million for music videos, and $1.5-million to promote 4 singles. Because of her breakdown around the time of the album release, Carey was unable to properly promote the album like she usually would; perhaps one, but not the only reason, her album has done so poorly.

EMI music chief Alain Levy, who was hired after the release of “Glitter,” is hoping to reach a settlement where Carey would receive a multi-million dollar sum to leave the company.






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