Ellen Signs Gaga Kid to Record Label 

Ellen DeGeneres is parlaying her success as a judge on American Idol into a new business venture -- her own record label. And the comedian already has her first artist.

Twelve-year-old YouTube sensation Greyson Chance became an overnight success when his cover of Lady Gaga's "Paparazzi" spread on the Web. He performed the song on Ellen's show, and the talk-show host even surprised him with a complimentary call from Gaga herself.

"Greyson ... inspired me to start a record label called eleveneleven. He is my first artist and we are making a record together," DeGeneres said in a statement released on Tuesday.

Gaga's manager, Troy Carter, and Madonna's manager, Guy Oseary, have signed on to comanage the singer. DeGeneres says she plans to use her talk show as a venue for introducing new artists.

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