Rapper 50 Cent might have dropped the deal he had with Sleek Audio's parent company, TVGoods Inc., to produce headphones, but that doesn't mean he's dropped the ball on putting out his line of audio accessories. He just announced the creation of a new company, SMS Audio LLC, which has already signed a new deal with TVGoods Inc.

"As reported, the license arrangement between my company, G-Unit, and Sleek Audio to produce headphones branded as "Sleek by 50" has been cancelled," 50 Cent clarified to AllHipHop.com. "Instead, I have established a new company that is developing a complete line of audio accessories, including wireless headphones, offering superior sound quality along with cutting edge technology for all music lovers to enjoy."

He says that he seeks ownership of any company that uses his brand and name and is still keen on providing quality audio equipment for his fans. He currently holds 7.5 million shares of TVGoods, which he purchased for $750,000.

"As an artist, I am committed to bringing top-of-the-line audio products to my fans, and I am excited that I have the resources to achieve just that with this new venture,” he adds.

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