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Celebrity news for the week of June 29, 2007

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Rocker Rod Stewart, 62, wed model Penny Lancaster, 36, on June 16, near Portofino, Italy…. That same day, Jon Cryer (Two and a Half Men), 41, tied the knot with entertainment reporter Lisa Joyner in Cabo San Lucas.

Keri Russell (Waitress), 31, and her husband, contractor Shane Deary, 30, welcomed their first child, son River, on June 9…. Kevin James (The King of Queens), 42, and his wife, Steffiana, 32, greeted their second child, daughter Shea Joelle, on June 14.

On June 8, 24 executive producer Brian Grazer, 56, filed for divorce from his wife of nearly 10 years, author-producer Gigi Levangie (The Starter Wife), citing irreconcilable differences.

Yahoo! Inc. announced on June 18 that its chairman and chief executive Terry Semel, 64, is stepping down, and will be replaced by co-founder Jerry Yang, 38. ”This is the time for new executive leadership,” said Semel in a statement. He will now serve as an adviser to Yahoo’s board of directors, in a statement.

The Academy of Motion Picture Arts and Sciences announced on June 13 that in some situations it will allow more than three producers to pick up Oscars for Best Picture. The organization’s three-producer policy was contested during February’s Academy Awards race — when Paramount chief Brad Grey, 49, was denied eligibility as a producer for Warner Bros.’ The Departed, which then won for Best Picture.

Raymundo Ortega, who claims his van was hit in 2005 by a vehicle driven by Lindsay Lohan, 20, sued the actress for $200,000 on June 14. He contends that Lohan was intoxicated. Lohan’s reps did not return calls for comment…. A suit filed last year against Naomi Campbell, 37, by her former assistant Amanda Brack, 21, was settled on undisclosed terms May 11. Brack had accused the supermodel of verbally and physically abusing her multiple times in 2005…. Boy-band Svengali who helped form ‘N Sync, Lou Pearlman, 52, was arrested June 14 in Bali. He faces one count of bank fraud, as well as several suits accusing him of cheating investors out of up to $315 million. Pearlman, who is expected to return to Florida in July, is no stranger to money woes: In 1999, ‘N Sync sued him for bilking them out of royalties (it was settled out of court). Pearlman was unavailable for comment. ‘N Sync’s Lance Bass told EW via e-mail: ”Karma’s a bitch.”… On June 18, Mötley Crüe sued Carl Stubner for $20 million, claiming that as their manager, he gave them bad business advice and caused member Tommy Lee, 44, ”to become engaged in reality projects that were bad career moves.” Stubner’s reps said the charges are ”without merit.”

High-profile gossip reporter Claudia Cohen, 56, who was a regular correspondent on Live With Regis and Kelly, of cancer, June 15, in NYC.

Julia Roberts Welcomes Baby No. 3
There’s a new male in Julia’s life. The stork paid a visit to the 39-year-old Oscar winner and her husband, Danny Moder, 38, on June 18 in Los Angeles. The couple, who have been married since July 2002, welcomed the newest addition to their family: a baby boy named Henry Daniel, who weighed in at 8 pounds 8 ounces. ”The Moder family is doing great,” said Roberts’ rep. Henry’s big sister and brother, twins Hazel and Phinnaeus, turned 2 last November. — Lindsay Soll

Spielberg Greenlights Clinton in ’08
The hottest deals in Hollywood right now? Political endorsements. On June 13, director Steven Spielberg announced he’s backing Democratic senator Hillary Clinton for president in 2008. Meanwhile, his DreamWorks partners David Geffen and Jeffrey Katzenberg have already thrown their weight behind opponent Barack Obama. ”Hillary is a strong leader and is respected the world over,” Spielberg said in a statement. ”She will bring America back together, and rebuild our prestige abroad.” — Tanner Stransky