Virgin Records lost 2 of their major acts last week, one was there choice and one wasn’t. After forking out $100 million to release Mariah Carey’s next five albums, Virgin decided that after seeing the laughing stock that Mariah has become that they would cut their loses and send her packing. The downside is that they had to pay another $30 mil to buy her out of her contract.
The bad news for Virgin is that 2 men who they really wanted to keep are heading for the hills. Word is that The Neptunes have signed a deal with Arista Records who has given the production duo their own imprint, “Star Trek Entertainment.” The ever-delayed forthcoming Neptunes album, “N.E.R.D.” will however be released by Virgin.
