Gwyneth Paltrow's Music Deal Bites the Dust

A few months ago, it was reported that actress Gwyneth Paltrow was on the cusp of inking a $1 million record deal with Atlantic Records. The reports came on the heels of Paltrow's live performances at both the Grammys and the Academy Awards, as well as her much-publicized guest spots on the FOX hit show Glee.

But it doesn't like Gwyneth's going to get her chance to work with Jay-Z on her major label debut anytime soon. A source told the New York Post's Page Six, "Atlantic bosses were very interested, and [Atlantic owner] Warner chief Lyor Cohen was very supportive. But then the talks halted and the deal fizzled out. There was a rumor that Paltrow wanted $1 million to sign, but that is a ridiculous figure. Atlantic is still interested in signing her."

Paltrow's rep insists that Paltrow still doesn't know if she's interested in launching a career in music, but that it's "still something she is considering."

Were Paltrow to make the push into music, she'd follow in the footsteps of quite a few well-respected performers—among them Zooey Deschanel, Jennifer Lopez and Juliette Lewis. See who else has made the jump in our Most Musical Actors special!