Ellen and GreysonEllen DeGeneres is doing what any self-respecting 'American Idol' judge would do: she's starting her own record label! The TV talker has named the imprint eleveneleven, and says she was inspired to jump into the record business by her first signed artist: Greyson Chance, the 12-year-old Oklahoman who catapulted to fame mere weeks ago on the strength of his rendition of a Lady Gaga song.

In a simple statement, she said: "Greyson ... inspired me to start a record label called eleveneleven. He is my first artist and we are making a record together."