50 Cent to launch film company

He's appeared in the war flick Home of the Brave and the biopic-of-sorts Get Rich or Die Tryin', and he's set to star alongside legendary actors Al Pacino and Robert De Niro in Righteous Kill. But now 50 Cent is looking to take control of the business side of the movie industry.

At the Sundance Film Festival in Park City, Utah last weekend, 50 told MTV News that he will be forming a new film-production company with his manager Chris Lighty and producer Randall Emmett. 50--real name Curtis Jackson--said that the as-yet-unnamed venture will let him have more creative control over projects he takes on, in addition to developing his own films in-house.

"I've had a chance to be a part of some great projects with [Emmett], and I've watched him work," 50 told MTV. "He's knowledgeable in that field, so I thought it would be smart for me to partner up with him to create my production company."

Diddy eyes another name change

Really? Again? According to a report in UK newspaper The Mirror, Sean "Diddy" "P Diddy" "Puff Daddy" "Puffy" Combs, he of the frequent name changes, is mulling yet another. Combs told the paper that he is changing his nom de plume yet again, this time to Sean John. This particular name change is very much a back-to-basics transformation for Combs, given that Sean and John are his first and middle given names.

Diddy has long used Sean John as the name for his popular clothing line, as well as his new fragrance. "I have always evolved and taken a different name each time," he said. "Right now I want to be Sean John because that's where I am right now."

Although many of the name changes have been made seemingly on whim, his last choice, Diddy, has caused him some legal and financial woes. In 2006, British courts ordered Combs to pay "significant damages" to London DJ/producer Richard "Diddy" Dearlove, and he was also restricted from trading under the name of Diddy in the UK.

In unrelated Diddy news, four witnesses have come forward and made statements supporting a man's assertion that Combs assaulted him at a post-Oscar party in Hollywood last February.

According to the Associated Press, depositions taken from the witnesses claim that the Bad Boy mogul struck real-estate agent Gerard Rechnitzer unprovoked in front of Teddy's at the Roosevelt Hotel following an argument over the man's girlfriend. It was not the first time Diddy has been accused of assaulting someone over a woman.

The depositions came from a civil suit filed by Rechnitzer against Combs. In July, the Los Angeles District Attorney's office declined to file charges against Diddy in the case, citing "insufficient evidence."

Soulja Boy has high opinion of self

Teenagers are often prone to an inflated sense of self, and 17-year-old Soulja Boy Tell'em is no different, although he has digital-download records to the tune of 3 million sold to provide even further inflation. But when MTV came calling last week, the "Crank That" rapper took the bait, saying he deserved to be ranked high than Lil Wayne, Jay-Z, and Kanye West on the network's annual "Hottest MCs in the Game" list.

"I think if y'all did it right now, yeah, I deserve to be on there," Soulja Boy told MTV News. "But back there, when y'all did it, I probably didn't have the status that I have right now. I'm Grammy-nominated. If I look at the new list and I compare myself to all 10 of the artists and some don't add up, I'll be like, 'Wow. I should be Number 1 if it's right now. I'm Number 1.'"

"Right now, yes [I'm hotter than them]," he said when asked if deserved to be ranked higher than Lil Wayne, Jay-Z, and Kanye on MTV's annual top MCs list. "Today, January--whatever the date this is--2008, yes [I am the hottest]."

Soulja Boy told MTV that he needs three or four more years to get his focus on being more lyrical in his tracks. In the meantime, he sees himself as a pioneer of sorts, opening the door for do-it-yourself acts and artists set on making big dance tracks.

"They'll say I opened up a lot of doors for people," Soulja Boy said. "The first person who started this, what we call hip-hop, opened the door for me. It probably wasn't a party track or a 'Crank That,' it probably was something way, way, way different than what I'm talking about, but he still opened the door for what I'm doing, and if I never would have did this, [the next] wouldn't come."

Lil Wayne out on bail, could face heap of charges

Lil Wayne is out on bail, fresh out of jail, and dreaming about avoiding a litany of charges stemming from a run-in with border patrol officials in Arizona earlier this week. The ubiquitous rapper's tour bus was stopped around 11:30 p.m. Tuesday at a border patrol checkpoint near Yuma, Ariz., and authorities said they found 105 grams of marijuana, 29 grams of cocaine, 41 grams of ecstasy, and miscellaneous drug paraphernalia onboard.

Police also found $22,000 in cash and a 40-caliber pistol, but Wayne reportedly has a permit to carry a concealed weapon in the state of Florida. Wayne, 25, and two members of his entourage were arrested, and the rapper was taken into custody by local law enforcement and officers from the Drug Enforcement Agency. Eleven other people were riding in the bus.

Wayne--real name Dwayne Carter--was booked on charges of possession of dangerous drugs, possession of narcotics, and possession of drug paraphernalia at 6:00 a.m. on Wednesday and released several hours later on $10,000 bail. It is the latest in a series of drug-related arrests for the rapper.

Busta Rhymes cops deal, avoids jail

Lawyers might not have the best reputation with the general public, but they sure do come in handy for rappers who frequently get themselves into trouble. In the latest example, Busta Rhymes seems to have avoided serving any jail time for a series of assaults and run-ins with the law in the past two years.

According to the Associated Press, the rapper agreed to plead guilty to two misdemeanor assault charges and was sentenced to 10 days of community service and three years of probation. If he violates the probation, he will face up to one year behind bars.

The charges stem from two separate incidents in which the 35-year-old Busta--real name Trevor Smith--was accused of assaulting a former employee and beating up a New York man who accidentally spit on his SUV.

Busta was also facing a DUI charge, for which he was ordered to pay a $750 fine and enroll in a drunk-driving program. In another separate count of driving with a suspended license, Busta will lose his driver's license for a period of six months. In July, Busta rejected a plea deal offered by the district attorney that would have landed him in prison for one year.

Lil' Kim leaves Atlantic

Joining the likes of DMX, Styles P, and Redman in the ongoing exodus of rappers from major labels, Lil' Kim has been released from her contract with Atlantic Records. In an interview on DJ Kay Slay's Shade45 "Streetsweeper Radio" radio show on Sirius, Kim said that she harbors no ill feelings toward the label but is eager to release her next album independently.

But the move to the indie side of the game might just be symbolic, given that the pint-sized Brooklyn MC is rumored to be in negotiations with Imperial Records, the independent division of Capitol Music Group, which is owned by major label EMI.

Kim told Billboard that she was afraid to release her music independently several years ago but is now more comfortable in her knowledge of the music business to work her project. Lil' Kim's upcoming album, which was originally slated for February, is now tentatively set for April or May 2008.