US rapper 50 Cent in talks to sign a $300million deal with Rupert Murdoch’s News Corporation, it’s been reported.

Under the terms of the deal, News Corporation’s social networking website Myspace would control the rapper’s touring commitments and TV production.

It would also over see 50 Cent’s affiliate work with G-Unit.

According to MediaTakeout, the rapper will receive up to half of $300million in shares, making him one of the company's biggest shareholders.

If signed, the deal would eclipse Madonna and Jay-Z’s recent signing to the concert promoter Live Nation.

No party has yet to comment on the reports.

(by Jason Gregory)