Mariah Carey and Jermaine Dupri have a lot of history together, which they are hoping to turn into big bucks, with the announcement of a new "merger" between the two.

The "merger" basically means that Jermaine Dupri will now manage Mariah Carey. In a press release, Jermaine stated, "A multi-talented artist of Mariah’s caliber should be doing everything imaginable. I’m sure others have said this but not the way I intend to do it. For me, it’s about the execution."

Mariah added, "We have a bond that surpasses music. I am super excited about our merger because we have so many innovative ideas that I know will come to fruition."

Previously, Mariah was managed by Jennifer Lopez’s current manager Benny Medina, and Randy Jackson from "American Idol."

Mariah is currently at work on her upcoming album, The Art Of Letting Go.