Gwyneth Paltrow still hopes to be a singer

The actress, who played a washed-up performer in film Country Strong, had reportedly been close to signing a deal with Atlantic Records.

But negotiations crumbled amid rumours she wanted $1 million USD.

A representative for the star said: '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.'

The 38-year-old Oscar-winner, who is married to Coldplay frontman Chris Martin, has also showed off her vocal talents on hit TV show Glee in recent months.

And she performed live at Academy Awards and the Grammys.

A source told the New York Post: '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 rumour that Paltrow wanted $1 million to sign, but that is a ridiculous figure.'