While terms of the deal were not disclosed, as of press time, a source tells the Los Angeles Times that Beats — known mostly for their line of Beats by Dr. Dre headphones — paid less than $10 million for MOG, a streaming music service boasting around 500,000 registered users.

“[Beats] was never about just headphones,” Luke Wood, Beats Electronics’ President and COO, said. “We’ve … expanded the Beats mission to every other link in the music experience chain — speakers, mobile phones, personal computers and automobile sound systems. With MOG, we are adding the best music service to the Beats portfolio for the first truly end-to-end music experience. With their talent and technology, the possibilities around future innovation are endless.”

Wood added that, despite the acquisition, MOG will continue to operate MOG as a stand-alone music service. However, the company plans to explore options in integrating with Beats.

MOG Chief Executive David Hyman will continue to head the company, while reporting to Wood and Jimmy Iovine.

“We’re thrilled to be joining forces with Beats, a company that’s committed at the highest level to the experience surrounding music delivery; the fit feels perfectly natural,” said MOG’s Hyman. “MOG subscribers can expect continued excellence from the best music service in the market, and we look forward to putting premium music experiences in the hands of millions of music lovers everywhere.”

Stay tuned for further info…

According to UK’s The Telegraph, newly-appointed creative director Hedi Slimane has decided a name change is needed to revive themselves in the always-competitive high-fashion landscape.

Slimane wants to “thrust Saint Laurent into a new era modern”, reports WWD, and thinks removing the founder of its first name from the famous moniker is the way forward. The brand follows in the footsteps of other major fashion houses — such as Versace, Gucci, Chanel and Prada — in going by a singular surname.

Despite the change, Saint Laurent’s iconic YSL will remain.

WWD says the creative head is “recapturing the impulses that inspired the founder to launch the Saint Laurent Rive Gauche ready-to-wear line in 1966 – among them youth, freedom and modernity.”

When appointed, Slimane was given “total creative responsibility for the brand image and all its collections” … and he got right to work.

The Telegraph reports that Slimane is also working on a new store concept for the brand. YSL’s new branding is set to be unveled shortly before Paris Fashion Week this September.

YSL has yet to release an official statement about the business move.

According to the list, recently released at Forbes.com, Mayweather knocked out the man who held the title for nearly a decade in Tiger Woods, and comes right before his bitter boxing rival Manny Pacquiao.

The list says the undefeated boxer has made $85 million for two fights last year — Victor Ortiz ($40 million) and Miguel Cotto ($45 million — putting him at #1, despite being currently incarcerated in Las Vegas. Additionally, he has been a part of the four biggest non-heavyweight pay-per-view events in boxing’s history; and maximizes his earnings by acting as his own fight promoter through his company Mayweather Promotions.

Behind Mayweather, as already mentioned, is Filipino boxing star Manny Pacquiao. He lands at #2, with total earnings of $62 million from fights, endorsements, among other business dealings.

Pac-Man is a pay-per-view star, with five fights each generating at least one million PPV buys during the past four years. He also holds an extensive endorsement portfolio including deals with Monster Energy and Hennessy, as well as longtime partners Nike and Hewlett-Packard. Despite a controversial decision loss to Timothy Bradley earlier this month, his first loss in seven years, he remains a star in boxing.

Tiger Woods, who has been #1 on the list since 2001, made $59.4 million to place third this year. Forbes.com says he earned $4.4 from golf winnings, while earning $55 million through endorsement deals, including a lucrative contract with Nike. Over his pro-golfing career, he has earning more than $100 million in prize money.

NBA superstar LeBron James comes in fourth with total earnings of $53 million — $13 from his NBA salary, and $40 million from endorsements — including Nike, McDonald’s, coca-Cola, State Farm, and many others. In March, he signed deals with Dunkin’ Donuts and Baskin Robbins in Asia.

Kobe Bryant came in at #6 with $52.3 million, while Dwight Howard was the next highest NBA player on the list with $25.6 million.

Tennis star Roger Federer round out the top 5 with $52.7 million, $7.7 for winnings and $45 million for endorsements.

Others on the list includes 30 football players, including Peyton Manning topping them at #10. The new Denver Bronco’s QB made $42.4 million during his last season with the Indianapolis Colts, even though he sat out the entire season while recovering from a neck injury.

Soccer superstar David Beckham (of the Los Angeles Galaxy) landed at #8 overall and is the highest ranked soccer player at $46 million.

New York Yankees’ Alex Rodriguez topped all baseball players by coming in at #18 overall with $33 million.

And, there were two women to make the list, both tennis players — Maria Sharapova ($27.9 million) comes in at #26, and Li Na ($18.4 million).

Check out the full list of the top 100 over at Forbes.com.

According to the New York Post, Jay’s title emerged in papers filed by arena developer Forest City Ratner Cos. in its bid to secure a liquor license for the future home of the Brooklyn Nets recently, under his government name: Shawn Carter.”

As one of seven directors, the hip-hop mogul will attend board meetings and help direct arena senior staff on daily operations, Barclays Center officials said.

With the team’s official move to Brooklyn this summer, Jay has already helped the Nets design their new logo and yet-to-be-released jerseys. And, he was especially hands-on in designing 11 luxury arena suites called “The Vault,” reports the paper.

Each suite is slated to cost around $550,000 each, and includes personal Jay-Z touches, down to the high-end forks, napkins and champagne that will be served.

According to the Post, news of Jay-Z’s title emerged as arena officials confirmed that they would extend drinking hours at the Barclay’s for their high rollers, meaning those splurging on luxury suites or other prime seating will get the added bonus of being served booze up to an hour after arena events end — or as late as 2 a.m., arena officials confirmed last week.

According to reports, there are 650,000 apps in the digital store overall, 225,000 of which are specific to the iPad.

Current Apple CEO Tim Cook says: “It’s becoming an economy in and of itself.”

In 2011, the computer software/hardware giant paid out $2.5 billion to developers, as part of a revenue sharing program. In 2010, that number was $1.5 billion. That’s some major growth.

Cook said there were over 400 million accounts on the App Store, which makes it the largest online store with credit card info that “Apple is aware of.”

Apple will also add an additional 32 countries will be added to the App Store, bringing the total to 155 countries.

Via the partnership, Snoop “gangster touch” on the new Tekken game, creating an original song for the game, titled “Knocc ‘Em Down”; and will also make a special appearance as a non-playable character in “The Snoop Dogg Stage” as a special pre-order bonus.

“We are big fans of Snoop Dogg and are proud to welcome him to the Tekken franchise,” said Katsuhiro Harada, the game’s Project Director at Namco. “The content we created with Snoop Dogg and the song he made for the game allow Tekken fans to experience the legendary hip-hop star in a unique way and blend both Eastern and Western cultures like never before.”

“I’ve been a fan of Tekken since the 90s, so I’m excited to have made ‘Knocc ‘Em Down’ for the game’s soundtrack,” adds Snoop. “The game’s got a special stage featuring yours truly sittin’ high above and watching the action take place. All you Tekken Tag Tournament 2 fans better get ready to experience kickin’ ass on Tha Boss Dogg’s stage with my new song…”

To get access to the “Snoop Dogg Stage, gamers will have to pre-order Tekken Tag Tournament 2. It is a free bonus as part of the title’s pre-order through retailers worldwide. Fans who pre-order through Amazon.com and Best Buy also gain early access to the first DLC characters, Michelle Chang and Angel. Players who pre-order through GameStop will have exclusive early access to “The Snoop Dogg Stage” plus DLC fighters Kunimitsu and Ancient Ogre, in addition to Michelle Chang and Angel.

The upcoming title improves upon the tag-based combat of the original, with the latest installment introducing one-on-one fighting and solo fighter vs. tag-team battles.

Tekken Tag Tournament 2 is slated to drop worldwide the week of September 10th. Pre-order your copy now, over at Amazon.com.

For more info, visit Tekken.com.

The news was revealed live on SPIKE TV, as the annual E3 conference rolls into Los Angeles.

“We’re thrilled to begin a long-term partnership that will bring fans incredibly authentic, and deeply connected, UFC videogames,” said Andrew Wilson, EVP and Head of EA SPORTS. “UFC has become a global powerhouse because they have the world’s best fighters, competing in the world’s best mixed martial arts events. We share UFC’s passion for the sport, and we look forward to capturing all of the intensity and excitement of the action with unique new game experiences across a range of platforms.”

“The UFC is not only the fastest growing sport in this country, but in the world. Our fans are so passionate, it’s insane,” UFC president Dana White said. “Now that we’ve hooked up with the biggest video game company on the planet, we can distribute this game tot he 175 countries, 22 different languages, and over a half billion homes worldwide that we’re in. All these people will now finally be able to get the UFC video game. This is a huge day for the UFC, a big day for the fighters, and more importantly, you the fans.”

Details about their first title together were unknown at press time.

Zuffa had previously licensed UFC gaming rights THQ, who developed their previous UFC video game titles.

Stay tuned for further details…

According to the L.A. Times, the global athletic giant hopes to find a buyer and sell both brands by the end of May 2013, when its fiscal year ends.

Why are they selling? Nike wants to focus on Nike gear, such as its new digital FuelBand fitness tracker, as well as product from Jordan, Converse and Hurley, it said Thursday (May 31).

“Divesting of Umbro and Cole Haan will allow us to focus our resources on the highest-potential opportunities for NIKE Inc. to continue to drive sustainable, profitable growth for our shareholders,” said Nike Chief Executive Mark Parker in a statement.

Having acquired fashion-casual label Cole Haan almost 25-years ago, Nike only recently purchased England-based Umbro in 2008 for more than $580 million in an attempt to strengthen its presence in the soccer market.

Both brands have struggled to make a profit as of late, even with its revenue growing. HUH!?!

Interested parties were unknown at press time.

According to Music Week, the site’s new owners (Specific Media and popstar Justin Timberlake) has held conversations with agencies, with a view to beginning a formal pitch process.

Specific Media’s senior communications manager for Europe, Rikki Webster, said that the agency hunt was still in its “early days” and nothing has happened just yet.

“We’ve had a few exploratory conversations within the marketplace, but no formal pitch process is currently being undertaken,” Webster said. “MySpace will look to roll out consumer-facing activity towards the end of this year, at which time we’ll most likely undertake a formal pitch, but nothing is happening at this time.”

What these plans mean exactly were unknown at press time.

The move follows the $35 million sale of Myspace in June 2011 by News Corp. to advertising firm Specific Media (alongside Timberlake), six years after it was purchased for a whopping $580 million in 2005.

In recent years, Myspace has moved away from a pure social media to a focus on entertainment, with Timberlake being involved in the promotion of the site’s involvement in artists’ creativity.

MySpace was the most visited social networking site in the world between 2005 and early 2008, before the rise of Facebook and other popular social media. It was also credited with launching the careers of pop stars such as Lily Allen.

News Corp. chair Rupert Murdoch later called the $580 million purchase of Myspace a mistake. #SMH.

According to PCWorld.com, Chrome took the lead with 32.76% share, while IE dipped to 31.94% following years of slowly chipping away IE’s market share.

Chrome previously held an advantage over IE back in March for one day, according to stats, but this time, it’s held its nearly one percentage point lead for an entire week.

The report says that while Chrome leads the browser market worldwide, IE still holds a big lead in the U.S. with 37% with Chrome trailing at a distant second at 23%, closely followed by Mozilla Firefox at 22%.

Numbers from StatCounter are “reliable”, says PCWorld. However, data varies from one provider to the next.

One example: NetMarketShare shows Internet Explorer had 54% share this month, while Chrome has 19%, and Firefox has 20%.

According to AllHiphop.com, Lollypop’s was launched during the Mayweather/Cotto fight weekend with Cliff Dutton and Jay. And, that first week was a big one too.

The rapper claims they’ve generated more than $5 million already.

“We decided to officially launch LollyPops and align ourselves during the Mayweather vs. Cotto fight weekend and I can proudly say there are now two winners,” said Akinyele.

“We’ve been thrilled and amazed to see lines of both men and women still coming at 8 a.m. and this has been every single night, better yet morning I should say, over the past 10 days,” he added.

Using his hip-hop connects, Akinyele has called on a number of his peers to help bolster the ambiance in the club.

DJ Whoo Kid is reportedly the resident DJ with others like Don Cannon, DJ RockStarr, Mark Da Spot and others. Celebrities such as Ray J, Bad Girls Club’s Camilla Poindexter, LoveRance, Gary Payton, Bobby Brackins, Mistah Fab, Marshawn Lynch, Sleepy Brown, Problem, G-Unit/ZooLife’s 40 Glocc have all been spotted there as well.

For more info, visit LollypopsLV.com.

The rap veteran has been known in the adult entertainment world for years, since to his explicit lyrics and sexual content. In 1993, he dropped his debut album, titled Vagina Diner. While it was just a mild success, the controversy over the title helped launch his career.

Akinyele followed in 1996 with Put It in Your Mouth, which garnered underground success for its title track.

According to The Life Files, Hov was on-hand for an ultra private event in New York on Thursday night (May 9), helping introduce D’usse (pronounced “dew-say”), A Bacardi-produced cognac expected to compete with Hennessy.

Details about Jay’s actual business involvement in brand’s launch were unknown at press time.

D’usse is slated to drop next month. The VSOP cognac will retail at around $44.99 per 750-ml bottle.

Jay previously name-dropped Armand de Brignac champagne (aka Ace of Spades) in the past. However, details about the business relationship have not been confirmed.

In a 2011 book, titled Empire State of Mind: How Jay-Z Went from Street Corner To Corner Office, Forbes staff writer Zack O’Malley Greenburg uncovered the business behind the endorsement, writing that Jay earns millions each year for his stamp of approval.

“All of them confirmed that Jay-Z receives millions of dollars per year for his association with Armand de Brignac. The connection wasn’t through the Cattier family, but through Sovereign Brands. The production cost per bottle of Armand de Brignac is about $13; the wholesale price is $225. The maximum output is 60,000 bottles per year. If Jay-Z splits the $212-per-bottle profit evenly with Cattier and Sovereign, a back-of-the-envelope calculation suggests his annual take would be a little over $4 million. One of my sources confirmed that number, and added that Jay-Z may have received equity in Sov­ereign Brands worth about $50 million,” writes Greenberg.

Get a copy of Empire State Of Mind over at Amazon.com.

Here’s a clip from the interview for the mag’s special issue, in which Money Mayweather explains why he’s able to make so much money, revealing that he keeps 100% of the revenues generated through his brand within his inner-circle. He  also discusses the luxuries of his crazy fortune and the lifestyle it’s afforded his family and friends, and estimates that he’ll generate anywhere between $500-$600 million over the next 12 months.

As part of ESPN’s “Money Issue,” they released of the world’s high-paid athletes … and guess what? Floyd Mayweather is the high-paid sports athlete in the U.S., raking in more than $40 million a year. For the full list, visit ESPN.com.

Mayweather vs. Cotto will take place the MGM Grand in Vegas this Saturday, and on HBO Pay-Per-View.

The Bad Boy Records founder, responsible for launching the careers of countless musicians including the Notorious B.I.G., holds an extensive business resume. His portfolio boasts stakes in Diageo-backed Ciroc vodka, where he receives double-digit millions annually as a share of profits; and stakes in clothing lines Sean John and Enyce, marketing firm Blue Flame, record label Bad Boy and a handful of tech startups.

Diddy is also set to launch a cable channel called Revolt in 2013 that could help him reach the billionaire territory. Forbes.com says he’ll own the channel outright, and based on projected viewership totals, its value could soar into the low-to-mid nine figures within the next few years.

The hip-hop mogul had not commented on the list as of press time.

Jay-Z lands at #2 with 460 million, thanks to the sale of Rocawear in 2007 for $204 million; a 10-year deal with Live Nation for $150 million; and his stakes in the New Jersey Nets, his 40/40 Club chain, and other businesses.

In at #3 is Dr. Dre, who has a net worth estimated at$270 million, doubling from a year ago thanks to the sale of his Beats Electronics headphones/audio business. In August, handset maker HTC paid $300 million to buy a 51% stake in Beats Electronics, the company founded by Dr. Dre and Interscope chief Jimmy Iovine in 2008. Dre’s cut was reportedly $85 million after taxes; and his remaining stake is valued at $100 million.

Birdman follows with $125 million, while 50 Cent closes out the top 5 with an estimated net worth of $110 million.

Below is the breakdown (via Forbes.com):

1. Sean “Diddy” Combs ($550 million)
Diddy has remained a mainstream mainstay for 15 years thanks to his knack for self-promotion. Lately, he’s been channeling that energy toward Ciroc vodka, much to the benefit of his bank account: he receives double-digit millions annually as a share of the spirit’s profits. Better yet, he’s entitled to a nine-figure chunk of cash if Ciroc is ever sold. He also boasts stakes in clothing lines Sean John and Enyce, marketing firm Blue Flame, record label Bad Boy, a handful of tech startups and cable channel Revolt, slated for a 2013 debut—all of which means he’s well on his way to becoming hip-hop’s first billionaire.

2. Shawn “Jay-Z” Carter ($460 million)
Unlike his fellow Forbes Five members, Jay-Z still churns out music and goes on tour—most recently with pal Kanye West—adding to his considerable war chest. He sold his Rocawear clothing label for $204 million in 2007 and signed 10-year $150 million deal with Live Nation in 2008, and also holds stakes in the New Jersey Nets, his 40/40 Club chain, ad firm Translation, cosmetics company Carol’s Daughter and other businesses. (For more on his rise as a businessmen, check out Zack’s Jay-Z biography, Empire State of Mind).

3. Andre “Dr. Dre” Young ($260 million)
Fittingly, the bulk of this super-producer’s wealth comes from headphones. In August, handset maker HTC paid $300m to buy a 51% stake Beats Electronics, the company founded by Dr. Dre and Interscope chief Jimmy Iovine in 2008. Sources say each owned a third of the company before the deal, placing Dre’s cut at $85 million after taxes. The agreement also values his remaining stake at $100 million, which could increase rapidly as the company continues to expand.

4. Bryan “Birdman” Williams ($125 million)
The Cash Money Records cofounder would be higher on this list if he held sole ownership of his label, but he shares it with brother Ronald “Slim” Williams. The duo founded Cash Money two decades ago, inking very favorable $30 million distribution deal with Universal in 1998. The label’s value has soared with the success of rappers Drake, Nicki Minaj and Lil Wayne (who shares in the ownership of sub-label Young Money). There’s even more cash on the horizon—the label’s deal with Universal is up this summer, raising the prospect of a bidding war for the right to distribute Cash Money’s releases.

5. Curtis “50 Cent” Jackson ($110 million)
The Queens-born rapper earned $100 million for his Vitaminwater stake in 2007, and then spent freely on cars and renovations to his Connecticut mansion, formerly owned by Mike Tyson. But a nice cushion remains from his back catalog, acting gigs and 50 Cent-themed videogames, books and clothes, as well as new headphone line SMS. Next up: an energy shot called Street King, which promises to feed hungry children—and 50’s bank account.

Tyler The Creator and the rest of OFWGKTA appear in a recent piece on BBC’s “Newsnight”, which breaks down how the group supplements their musical income through high-dollar merch and touring.

BBC estimates that Odd Future has given away nearly 20 albums worth of free music online, prior to signing distribution deals for their most recent commercially-released projects. Through this strategy, their buzz online became undeniable, and helped raise their profile and global fanbase, and ultimately lines their pockets off other streams of revenue outside of selling music.

In the deal, the brand will be featured in branded signage in Yankee stadium and integrated promotions throughout the 2012 season.

“Jay-Z has been a long-time fan of the Yankees, regularly attends games and has even included his favorite team in song lyrics, so this was a natural partnership,” said Jameel Spencer, of Rocawear’s parent company Iconix Brand Group, Inc.

“Rocawear, along with Jay-Z are very excited to be working with the Yankees for the 2012 season. We feel another championship in ’12!”

Further details of what the partnership entails were unknown at press time.

For more info on Rocawear, visit its official website at Rocawear.com.

Facebook’s chief executive and founder, Mark Zukerberg, made the announcement Monday (April 9) on his Facebook profile, in a post that has been liked over 73,000 times as of press time.

In it, he pledges to allow Instagram to remain independent.

“For years, we’ve focused on building the best experience for sharing photos with your friends and family. Now, we’ll be able to work even more closely with the Instagram team to also offer the best experiences for sharing beautiful mobile photos with people based on your interests,” Mark Zuckerberg wrote.

“We believe these are different experiences that complement each other. But in order to do this well, we need to be mindful about keeping and building on Instagram’s strengths and features rather than just trying to integrate everything into Facebook. That’s why we’re committed to building and growing Instagram independently. Millions of people around the world love the Instagram app and the brand associated with it, and our goal is to help spread this app and brand to even more people.”

The deal marks Facebook’s biggest acquisition to date. However, in his post, Zuck hinted that the acquisition might be the last of its size and scope. Previously, the social networking giant has targeted smaller companies for acquisitions.

“It’s the first time we’ve ever acquired a product and company with so many users,” Zuck wrote. “We don’t plan on doing many more of these, if any at all. But providing the best photo sharing experience is one reason why so many people love Facebook and we knew it would be worth bringing these two companies together.”

The deal is expected to be finalized later this quarter.

Apparently, according to TechCrunch.com, Instagram closed $50 million in funding at A $500 million valuation just before the sale. These new investors weren’t aware of the deal either, but will make out with 2x their investment in just a few days … now that’s fast money!

Topping the list of the 10 highest-paid is New York Yankee’s superstar Alex Rodriguez. He bests second place athlete Joe Mauer by $5 million with earnings of $32 million.

Aside from his annual baseball salary, A.Rod has endorsement deals with the likes of major brands like PepsiCo, Kraft Foods, Nike and Colgate. However, Forbes.com notes that his “endorsement portfolio was hardly robust.”

Obviously, his 2009 confession of using a “banned substance” is likely an element that has cost him major endorsement money, and ensures that sponsors will never fully embrace him.

“Despite his noteworthy accomplishments on the field, he hasn’t succeeded in resonating off, if it’s because he lacks a measure of authenticity sought by sponsors and, ultimately, consumers,” David Carter, executive director of the USC Sports Business Institute, tells the publication. “This difficulty in connecting with fans and consumers has weighed heavily on his ability to secure major endorsements.”

Still, Rodriquez remains the top-earning player with a combined on and off-the-field income of $32 million in 2012. His 10-year, $275 million contract extension he signed with the Yankees in 2007 is credited here, which pays him $30 million this year, including a $1 million bonus paid in January.

In addition to A.Rod, three of his Yankees teammates also make the list — including Derek Jeter at #3, pitcher CC Sabathia at #6, and pitcher Mark Teixeira at #8.

See the full list over at Forbes.com

Rick Ross revealed Wednesday (March 14) that he’s recently inked an endorsement deal with shoe maker Reebok Classics.

Following the brand’s partnership with producer Swizz Beatz last year, they strengthen their ties within the hip-hop game with Miami rap superstar.

Ross confirmed news of the deal via Twitter (@RickyRozay), only after Swizz let the cat out of the bag, welcoming the rapper to the brand with a photo of the pair together at Reebok offices. “The ink is DRY now it’s time to fly! Rozay welcome to Reebok,” the producer wrote (@TheRealSwizzz), who also holds a Creative Director position at Reebok Classics.

Further details about the deal were unknown at press time. Stay tuned…

Famed graffiti artist David Choe is everywhere over the last couple weeks, thanks to the leakage of news that he owned some stock in Facebook, reportedly worth over $200 million.

After giving Howard Stern the first official interview, in which the pair spoke about a variety of NSFW topics — including jerking off, his love for women and gambling, and time in prison — the artist gives his first television interview with Barbara Walters and ABC News’ Nightline.

In clip, Choe takes Walters on a little graffiti run — first painting the veteran news reporter’s white button up, and then picking her up, so she could paint high up on a wall. Then, in a sit-down conversation, he describes the works he created at Facebook’s first offices, explains why he chose the stock payment over cash when he really needed; and why the news of his new found wealth spreading is making him miserable.

The full interview aired on “Nightline” this week.

Los Angeles artist David Choe has been all over the news for the past two weeks, due to news of a stock option he took with Facebook in 2005 over payment for painting their first office in Palo Alto, California.

That stock is estimated to worth anywhere from $100-$500 million-plus, sparking a media firestorm.

Apparently, major media outlets have been clamouring to get the first interview with him … but he hasn’t called anyone back. Instead, he opted to go on “The Howard Stern Show” to tell his wild story (NSFW).

During his long interview with Howard, Choe goes into his entire story … from how people have reacted to news of his new wealth, his wild days of making his first million by gambling in Las Vegas, being incarcerated in a Japanese prison, and of course, his dealings with Facebook.

One of the best interviews we’ve listened to in a long while. Below is the rest of the interview, via ShaBooty.com.

With recent reports of struggling sales, Jay-Z is stepping in to help save the brand he started in the 1990s with partner Damon Dash: Rocawear.

Although the hip-hop mogul made a killing with the brand over the years, it’s apparent that it’s struggling, after reports surfaced that half of the brand’s employees were laid off at the Manhattan offices. Although a source told the New York Post that Jay had given up on the brand last month, citing an end to his contractual obligations, it seems that may be far from the truth.

Using his superstar status, Rocawear hopes to ramp-up sales and revamp the menswear line by placing Jay-Z as the star in the brand’s first-ever TV campaign, reports U.S. Magazine.

The TV spot is set to begin airing on MTV, BET, and TNT, primarily during NBA games.

Titled “From Marcy to Madison Square,” the commercials will be black-and-white visuals, which focus on Jay-Z’s rise from selling CDs out the trunk of his car in he Marcy Projects of Bedford-Stuyvesant, Brooklyn, to headlining concerts at Madison Square Garden.

Other reports said Rocawear plans to expand its childrens’ clothing line and international markets.