Mariah's '£35m golden handshake'

Carey's movie Glitter was slammed by the critics

Record label Virgin is reportedly giving Mariah Carey £35m to buy itself out of an expensive contract after just one album.

The star signed with the company in April 2001 for an estimated £70m for five albums.

But following disappointing sales of Glitter, her first for the label, Virgin is said to be keen to sever ties with the singer.

Carey's early success made her one of the US's biggest artists

Carey had a troubled 2001 after suffering an emotional breakdown which led her to check into a clinic to recover.

Her first major film, also called Glitter, had to be postponed until she was well enough to promote it, but damaging reviews ensured it did not recoup its money at the box office.

EMI has now offered the sizeable golden handshake deal in order to offload Carey and her expensive contract from its artists' roster, the New York Post has reported.

Ex-husband

Glitter the album has had worldwide sales of two million, compared to 20 million for her 1993 release Music Box.

Virgin signed Carey in April after she quit the Sony label owned by her ex-husband Tommy Mottola.

The Glitter soundtrack did not perform as well as expected

EMI reported pre-tax losses of £2m for the first six months of 2001, compared with a profit of £59.1m for the same period last year.

The company said "difficult and unpredictable" market conditions were to blame for the slump in profits.

Carey began to write songs while she was at school and broke into the recording industry soon after graduation, making her debut on Columbia Records in 1990.

She was the biggest-selling US artist of the 1990s and is best known for hits I'll Be There, Without You, Fantasy and Open Arms.

Her single Heartbreaker made her one of the most successful artists ever in 1999, when it became her 14th US number one single, a feat beaten only by the Beatles (20) and Elvis Presley (17).