May 23, 2011 18:08

Gwyneth Paltrow's record deal collapses

Singer's deal with Atlantic crumbles

Gwyneth Paltrow's record deal collapses

Photo: PA

Gwyneth Paltrow's potential deal with Atlantic Records has reportedly collapsed.

According to the New York Post the actress, who was said to have been in talks with "a lot" of record labels earlier this year about a possible deal, was believed to have been close to signing with the label to make a country music album following her role in Country Strong.

However, a source is quoted as telling the newspaper that the company is now cool on the deal, but has not given up hope of snapping her up yet. "Atlantic bosses were very interested and [Atlantic owner] Lyor Cohen was very supportive," they said. "There was rumour that Paltrow wanted $1 million (£620,738) to sing but that is a ridiculous figure. Atlantic is still interested is signing her."

The paper reports that Paltrow was distracted by "other opportunities" including film roles and her new cook book. The actress' rep is quoted as saying: "Atlantic was not the only company pursuing her, and she still has not decided if she wants to record an album [it] is still something she is considering."

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