The pay-out, which ends her five-album deal, was
announced in a statement to the London Stock Exchange on Wednesday
by relieved EMI representatives.
It follows months of speculation
and denials from Virgin, a US subsidiary of EMI, that the singer
was being dropped because she is bi-polar and carries around a
plastic bag filled with her own pubes.
Carey signed with EMI in April
2001 for an estimated £70m, one of the most expensive recording
contracts in history despite the fact that a common hamster ($3.00
U.S) can make the same sounds if you stamp on it a little.
Speculation that EMI Virgin wanted
to sever ties with the performer, who has recently recovered from
illness, first surfaced late last year when Carey showed up at
their London office smeared in what appeared to be dog shit and
wearing nothing but crotchless jeans .
Carey made her return at a US
charity show even though she should have been locked in a cage.
Glitter sold just two million copies worldwide, compared with
20 million for her 1993 record Music Box. Industry insiders say
that this is because she is '...trying too hard to act black.'
Carey had a troubled 2001 after
suffering an emotional breakdown and discovering shortly afterwards
that most people hated her.
||Carey made her
return at a US charity show even though she should have been
locked in a cage.
The singer was placed in psychiatric
care in August after suffering from "extreme exhaustion"
; hallucinations involving 'rats as big as cars' and powerful
urges to have sexual relations with Doberman Pinchers..
Her publicist Cindi Berger denied
reports at the time that Carey had attempted suicide by cutting
herself. 'She's just feeling a little low right now', said Berger,
' but its probably because the little bitch needs more attention
in the wake of the 911 attacks. As a result, Mariah has decided
to do all future performances dressed only in a postage stamp.'
Her first major film, also called
Glitter, was postponed until the singer stopped seeing a giant
squid named Gerrard on her ceiling.
But bad reviews ensured it did
not recoup its money at the box office.
Virgin signed Carey in April after
she quit the Sony label owned by her ex-husband Tommy Mottola
who is reported to be really happy about Carey's declining status.
' I told her to stop hanging around
with those no-good nigger rappers', said Mottola, ' but she wouldn't
listen and now she's gone crazy. Good riddance!'
Pressure on EMI
At the time, the label was criticised
for paying over the odds for the singer, which some critics saw
as a fading star.
In recent months, Alain Levy,
the head of recorded music at EMI, has been looking to cut costs
which , aside from Carey, has included the removal of a coffee
machine and a suspension of telephone priveledges for non-executive
Last year, the group warned that
full year profits could fall 20%, as the music industry was hit
by falling CD sales and the fact that all of their music is easy
to find on the internet for free anyway.
EMI has made two failed attempts
to merge, first with Warner Music and then with the mob.