As previously revealed, Harmon, the winner of Idol's fifteenth season, joined Scott Borchetta's 19/Big Machine Records. But in an exciting turn of events, Renae has also inked a contract in partnership with Big Machine, Billboard reported.
Renae will be joining the Universal Music Group family, signing with 19/Big Machine/Motown Records.
"Because of the overwhelming fan demand and success of the farewell season of American Idol, we have made the decision to sign both the winner, Trent Harmon, and runner-up, La'Porsha Renae, to exclusive recording agreements," Borchetta told Billboard.
The Big Machine Label Group founder and CEO continued, "I can't think of a better way to bring this American institution to a close. Everyone at the Big Machine Label Group, the Universal Music Group and Motown Records are so thrilled with the outcome and can't wait to get to work."
Harmon, a 25-year-old waiter, defeated Renae, a 22-year-old call representative, during Thursday night's American Idol finale broadcast on Fox. Although the show's judges dubbed it the "closest race" in Idol history, the results were still a bit of an upset considering Renae had been the frontrunner all season long. Ironically, both singers are Mississippi natives.
It's unclear when Harmon and Renae's albums will be released.
"The music comes out when it's ready," Borchetta told Billboard. "Neither Big Machine nor 19 want to put out a piece of product."
Executives at 19 Entertainment, Big Machine Records and Motown Records believe they have found two "superstars" and "world-class artists."