Is Whitney Houston singing the blues these days? She might be, if reports from unnamed sources are any indication.
Houston, who re-signed with Arista Records — now a part of Sony Music Entertainment, a subsidiary of Sony Corporation (NYSE:SNE) — for $100 million about ten years ago, has apparently spent all that money.
This news comes after a rough decade for the diva, who battled drug addiction and divorced former New Edition singer Bobby Brown in 2006. Rumors of Houston’s fiscal problems have been denied by her spokesperson.
Houston released her last album, I Look to You, in 2009, and is slated to star in Sparkle this summer, playing the mother of the title character in a film about a 60s girl group and their struggles with fame. Perhaps not surprisingly, this movie is being released by another arm of Sony, Sony Pictures Entertainment.
Whether or not Houston has gone broke, Sony still seems to believe in the actress/singer, though we will have to wait and see whether their faith is well-founded or not.
For more information, check out this aol.com article.
– Benjamin Nanamaker, InvestorPlace Money & Politics Editor