AceShowbiz - 50 Cent has teamed up with boxer Floyd Mayweather, Jr. to launch a new film production company. The rapper has delved into acting in recent years, with roles in "Righteous Kill" and "Twelve", while he also runs a film firm called Cheetah Vision.

He is now tightening his grip on the movie industry by launching Mayweather Productions with the sportsman, and they announced the news at the Sundance Film Festival in Utah this week. 50 Cent tells MTV.com, "We're just celebrating the launch of Mayweather Films."

Mayweather, Jr., adds, "We're going to do what we normally do: sit in a room and brainstorm and try to come up with new ideas... you know, outside the box. Be creative and just work together and try to be positive. That's the main thing. It's about working hard, being positive and working together."