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.

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 - allowing the star to fulfil all of his contractual obligations with his current label, Interscope Records.