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Bullet magnet/ hip-hop "icon" 50 CENT is reportedly on the verge of signing a new branding deal with media mogul Rupert Murdoch's News Corp firm, worth a grotesque $300 million. Mr. "In Da Club" is in negotiations with the company, who currently owns MySpace, to fork over a large stake in everything associated with 50, including concerts, music, merchandising, G-Unit Records and... vitamin water?

According to reports, the deal won't be finalized until sometime next year to enable 50 to take care of his contractual obligations with his current label, Interscope Records. When the union does go through, however, half of the $300 million deal will be in stock, effectively making 50 Cent - real name Curtis Jackson - one of the biggest News Corp shareholders. This would also happen to make him one of the richest and most powerful men in all of entertainment, thanks to a deal nearly twice that of Jay-Z's recent union with Live Nation. Additionally, 50 would get his own film and TV production studio to do essentially whatever the hell he wants to.

News Corp is said to have entered the deal in the hopes that the move will propel MySpace Records into the big leagues. A source at 50 Cent's G-Unit Records, however, says the deal's not true at all. The anonymous employee told Vibe.com, “If this was true, we’d know first.” Of course, 'cause nothing happens without an anonymous source knowing about it first.