EMI/Virgin Looking To Buy Out Mariah Carey Contract

The Los Angeles Times reports EMI Group Plc, parent company of Virgin Records, is looking to buy out the contract of , which is reportedly in the $80-$118 million range. The label would give Carey a multimillion dollar settlement in return for her agreement to bail out of the label. Representatives for Carey, EMI, or Virgin Records could not be reached for comment.

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