"It's just getting started but great new things will be announced as the year progresses," a source tells the music publication, adding that the two have known each other for quite some time through mutual friends.
Billboard also reports that hot newcomer Miguel has signed a management deal with Carter.
This latest development is yet another laborious chapter in the "ARTPOP" saga. Days before the new record's release, Gaga announced the public split, citing "creative differences" over the direction of her career. In a recent post on her Little Monsters social site, she set the record straight. "There are always ups and downs. My heart breaks from the people I have trusted and loved who I’ve worked so closely with, who have used me, lied to me, worked me into the ground for the personal gain," she boldly lamented.
"When I woke up in the hospital after my surgery there were many people that were not there," she continued. "My health did not matter. I did not matter unless i could perform. This is a very hard lesson. I have lost love ones to the greed of money. It is not Interscope [Records]. They in fact love me very much and will see ARTPOP to the end."
Mayer's latest record "Paradise Valley" opened at No. 1 on the Billboard 200 last year.
In December, it was reported that he parted ways with longstanding manager Michael McDonald, after a 10-year business partnership.