Is the "Next Miley" Already Going Hollywood?

Thu., May. 8, 2008 5:17 PM PDT by Marc Malkin

Chris Polk/WireImage.com, Jeff Vespa/WireImage.com

It sounds like Selena Gomez is movin’ in on Miley Cyrus’ musical territory.

As I first told you, Disney execs are looking to make Gomez their next breakout, especially in response to the Hanna Montana star's recent controversy with the Vanity Fair pic.

Well, there's more...

Now I hear that the 15-year-old Gomez, who stars in the Disney Channel hit Wizards of Waverly Place, is being wooed by Cyrus’ music label, Hollywood Records. (The label is actually part of the Disney Music Group and releases many of the Mouse conglomerate's television and movie soundtracks.)

Cyrus, also 15, has a four-album deal with the label. Her second CD, Breakout, is expected to be released this summer.

“Hollywood Records really wants Selena,” a source tells me. “Nothing’s signed yet, but they’re going after her in a strong way.”

Though she doesn't have an album out yet, Gomez recently recorded several new songs for the upcoming Warner Bros. movie Another Cinderella Story. She’s even shooting a couple of music videos to support the flick, another source tells me.

Just a smidgen of Cyrus' success would be golden. People magazine recently estimated that in just another year, Cyrus will be worth—gulp—$1 billion.