Justin Timberlake is reportedly planning to buy Elvis Presley's former recording studio.
The pop heartthrob has launched a multi-million dollar attempt to buy the rock legend's Memphis studio in his bid to become a music mogul.
The 24-year-old - originally from Memphis - allegedly wants to set up a gigantic recording complex in the city.
A source is quoted by Britain's Daily Star as saying: "He is determined to transform himself from performer into businessman and has his heart set on the plans.
"He's got a team of very wealthy investors on board to ensure his dream has every chance of becoming reality."
Timberlake - who is dating actress Cameron Diaz - is also interested in buying legendary record label Stax, which would be added to his own JayTee label - which he launched earlier this summer.
A spokesman for the Memphis Music Foundation is quoted as saying: "We love Justin. He's a native.
"It's very exciting to have someone of his significance participate in the music scene here."
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