Recently, we reported that Carey's $100 million, five-album deal with EMI was voided out with a $50 million payoff, but we--and the rest of the news world--were wrong. EMI confirmed Wednesday they only gave Carey $28 million to break their contract, Reuters reports.
EMI's main reason for splitting with the songbird is that Carey's last album Glitter was a real "Heartbreaker." Selling only 2 million units, Glitter didn't come close to the huge success of Carey's previous albums like Music Box.
But media analysts are split on their opinion of EMI's decision.
Kingsley Wilson, at Investec Henderson Crosthwaite says, "EMI took an executive view on whether...[Carey] would ever generate the kind of album sales she did in the past again. It's a huge gamble for music groups investing in these artists."
On the other hand, some analysts believe Carey will rebound, go to another record label and launch another huge hit, leaving EMI to wipe away million dollar tears.
So who will put their faith in the 31-year-old singer who already has at least three strikes against her--suffering a very public bout with depression last year, making a box office bomb with her acting debut in Glitter and now being dumped by her record label?
Whoever it is, Mariah will be waiting for a "Hero" to come along.