I just caught wind of a rumor that 50 Cent is conspiring to ink one of the most lucrative entertainment deals in history.

According to The Most Access, Fif is in the midst of signing a still on the hush 10 year deal with News Corp (we’re talking FOX AND RUPERT MURDOCH HERE FOLKS!) According to the report the deal rumored to be around $ 300 Million is also poised to leverage 50′s hipster credibility to take News Corp’s newest pet project MySpace Records to the next level.

Similar to Jay-Z‘s behemoth pact with Live Nation, 50 will tie up a large partion of the loot in stock options making him the one of the largest minority (not race…I mean loot) shareholders of News Corp.

Ready for the breakdown?

*50 Cent’s website Thisis50.com will be acquired and run by News Corp
*50 Cent and his G-Unit recording artists will be filed under News Corps newly acquired MySpace Records umbrella. 50 of course will maintain publishing
*A G-Unit book deal
*50/ G-Unit touring to be marketed through a newly created News Corp marketing entity (I’m guessing to compete on a smaller scale with Live Nation)
*50 will be granted a production house for his film and tv projects.

Like I said this would be HUUUUGE! This transcends hip hop and entertainment as a whole and I’d imagine would dwarf Jay’s recent deal although the official terms haven’t been disclosed. Remember last time we heard something like this 50 made like 10 trillion dollars from the Vitamin Water sale. So we know his publicists are very liberal when leaking information. According to the report the deal would go into effect in 2009 when 50′s contract with Interscope Records expires.