50 Cent To Sign $300 Million Murdoch Deal?
Rap superstar 50 CENT is on the verge of signing a new branding deal with media mogul RUPERT MURDOCH's company - worth a cool $300 million (GBP150 million), the CM reported.
The In Da Club hitmaker is in final negotiations with Murdoch's News Corp firm - which owns social networking site MySpace - for a large stake in all aspects of the 50 Cent brand, including music, concerts, books and his label G-Unit Records.
If the agreement goes ahead, G-Unit Records and its roster of artists will move under News Corp's MySpace Records umbrella.
According to reports, half of the $300 million deal will be in stock, potentially making 50 Cent - real name Curtis Jackson - one of the biggest News Corp shareholders.
However, the deal is not expected to be finalised until next year (09) - allowing the star to fulfil all of his contractual obligations with his current label, Interscope Records.