So True? So False? Did Gwyneth Paltrow Really Land a $900,000 Record Deal?!

Oscar-winning actress has long been clear about her plans for musical domination—but is her album already on its way?

You knew it was coming. No, not the onslaught of misdirected criticism, though you know that's inevitably on its way as well. Gwyneth Paltrow's record deal!

Even before her performances at the Country Music Awards, Grammy Awards, Academy Awards and Glee (twice), Her Goopness has long been courted by record companies encouraging her to take a page from her hubby's playbook and put out an album. And now word has it that Atlantic Records is the lucky label to have won out, signing Gwynnie up for a deal worth a whopping $900,000.

Not a bad payday for a debut album.

But is this rumor country strong or country weak? Multiple outlets are reporting it, so it must be true, right? Well, hold onto your iPods, because this rumor is…

So false! But which part…?

Well, it's absolutely true that Gwyneth is currently being courted by record labels, and, multiple sources tell E! News, she has in fact entered talks with Atlantic Records (so yes, like it or not, it's going to happen, people). But—and here's the rub—that's it.

In other words, no deal has been signed, no $900,000 forked over, no album ready to go. Yet.

But give it time—and maybe not even all much of it—as Team Paltrow has been working overtime to convince the nation she's got what it takes to rock a mic. According to the New York Post, when the album does eventually come out, it'll be classified as "country pop."

And yes, that's when, not if.