Is 50 Cent About to Sign $300M MySpace Deal?

Reports have surfaced that 50 Cent is in the midst of putting together a $300M deal with News Corp's MySpace.

According to MediaTakeOut.com, Curtis "50 Cent" Jackson" is on the verge of signing a 10 year $300M deal which will give News Corp. far reaching control over the 50 Cent brand. The deal is said to help News Corp. launch it's MySpace Records into the big leagues.

Preliminary terms of the proposed deal include:

• The multi-platinum 50 Cent and his G-Unit artists will move to a new G-Unit label created under MySpace Records.
• all of 50's concert touring would be marketed and sold through a newly created News Corp entity;
• 50's website Thisis50 will be acquired and run by News Corp;
• in addition, 50 would get his own production studio to put out film and tv projects.

The $300M cash and stock will make 50 Cent one of the largest shareholders of News Corp. when the deal is done.

While nothing has been finalized. The deal is scheduled to go into effect in 2009 - after 50 completes his final album with Interscope.

Jay-Z recently closed a similar 360 deal valued at $150 million with Live Nation Inc.

Source: MediaTakeOut.com