50 Cent plans to drop solo project this year, eyeing new major label deal
50 Cent is not yet free from his deal with Interscope, but he’s already looking around for the next big score.
According to the New York Post, the G-Unit honcho wants to follow in the steps of fellow mogul Jay-Z, who recently struck a $150 million partnership with Live Nation.
But before 50 is free to ink a more lucrative deal, he has to turn out two more records for Interscope. The first of the two, G-Unit’s T.O.S. (Terminate on Sight), is set to hit stores on July 1. Sources close to Fif say he wants that second album, a solo project, out by fourth quarter, so he can wrap up his Interscope ties by the end of the year.
Still, insiders close to the rapper’s camp said that unnamed parties are already talking the mogul up. There was speculation about a major deal with MySpace, though several industry executives familiar with the situation called the idea premature.
But Fif would be a great asset for any company looking to make its way into the record business, or for a label that’s ready to revamp.
Fif’s portfolio includes an investment in Vitamin Water valued at $100 million, his own record label, a branded clothing line, sneakers through Reebok, fitness videos, books, video games, Hollywood movies, and most recently a memorabilia line through a deal with Steiner Sports.
Live Nation hasn’t been ruled out as a bidder for 50′s services, though already deeply financially committed with a major like Jay already on its payroll.
Before anybody gets their hands on 50 Cent though, Interscope has to be satisfied. Rumor has it the label has a first refusal option that could keep any other interested company off the horizon.