Plus: Charles Nelson Reilly dies at age 76, Rosie leaves ''The View'' early, Nic Cage passes on an ''Untouchables'' prequel, Bullock starring in romantic comedy ''The Proposal,'' and more...

By Mike Bruno
Updated May 29, 2007 at 04:00 AM EDT
Justin Timberlake: Terry Richardson

Justin Timberlake to launch record label
Taking a page out of the Jay-Z handbook, it was announced today — that’s right, on Memorial Day — that Justin Timberlake is launching Tennman Records, a joint venture with Interscope Records. The multi-platinum song-and-dance man will serve as Chairman and CEO of the Los Angeles-based imprint; Interscope Geffen A&M will handle distribution. Exactly which artists will be having their albums distributed is not yet known; new signings are expected to be announced in the coming weeks. (Press release)

Charles Nelson Reilly dies at 76
Iconic ’70s game show fixture Charles Nelson Reilly passed away over the holiday weekend due to complications from pneumonia. He was 76. After winning a 1962 Tony Award for How To Succeed In Business Without Really Trying, television turned the actor into a household name, largely due to nearly 100 Tonight Show appearances with Johnny Carson and his long run on Match Game, which showcased his flamboyant style, sharply witted double entendres, and hilariously over-sized glasses. In a 2001 interview with The Advocate magazine, Reilly expressed his belief that his acting career suffered at the hands of his less serious-minded success: ”You can’t do anything else once you do game shows,” the much-beloved comedian said. ”You have no career.” He is survived by his partner Patrick Hughes. (CNN/AP)

Rosie O’Donnell won’t return to The View
Following her dramatic on-air argument with cohost Elisabeth Hasselbeck earlier this week on the ABC talk show, O’Donnell has decided to leave The View effective immediately — three weeks earlier than was initially planned. Said ABC Daytime president Brian Frons in a statement: ”We had hoped that Rosie would be with us until the end of her contract three weeks from now, but Rosie has informed us that she would like an early leave. Therefore, we part ways, thank her for her tremendous contribution to The View and wish her well.” Of her time on the show, said O’Donnell in a statement, ”I’m extremely grateful. It’s been an amazing year and I love all three women.” Barbara Walters said she and O’Donnell will remain friends off camera: ”I brought Rosie to the show. Rosie contributed to one of our most exciting and successful years at The View. I am most appreciative. Our close and affectionate relationship will not change.”

Cage says no to Untouchables
Nicolas Cage has backed out of negotiations to star in Brian De Palma’s prequel to The Untouchables, citing scheduling conflicts. It was reported on May 13 that Cage was in talks to play a young Al Capone in the upcoming movie. Separately, an announcement was made at Cannes that Gerard Butler, star of 300, has joined the cast of the prequel as Detective Jimmy Malone, the role that earned Sean Connery a best supporting actor Oscar in De Palma’s 1987 original. The prequel will follow Capone’s rise to power and his relationship with Malone. Cage is currently shooting National Treasure: Book of Secrets, which also stars Helen Mirren and Harvey Keitel and is scheduled for a December release. It is unknown what he has planned after that movie wraps. (Variety)

Sandra Bullock starring in The Proposal
Sandra Bullock will star in Touchstone Pictures’ romantic comedy The Proposal as a demanding boss who makes a deal with her young male assistant to agree to a sham marriage when she suddenly faces deportation to Canada. Mandeville’s David Hoberman and Todd Lieberman are producing, and Alex Kurtzman and Roberto Orci are executive producing via Kurtzman/Orci Prods. Kurtzman and Orci are the writers behind DreamWorks’ Transformers movie. Mandeville is also producing Paramount’s boxing movie The Fighter, which stars Matt Damon and Mark Wahlberg. Bullock last appeared in the supernatural thriller Premonition. (Hollywood Reporter)

Idol finale down 22 percent from last year
Wednesday night’s season six American Idol finale dropped 22 percent in adults 18-49 (11.1 rating/30 share) compared to last year’s 14.2/35 and was down 19 percent to 29.5 million total viewers compared to last year’s 36.4 million. It was the show’s lowest 18-49 numbers since its original cycle in 2002 and the lowest viewership since the third season. The final stats are likely to increase on those numbers since the 10 p.m. to 10:09 p.m. portion, where Idol announced the season winner, wasn’t included in the preliminary data. American Idol is still the top series on television, but it declined year-to-year on 29 of its last 31 telecasts in adults 18-49. At the same time, some 609 million votes were cast through the five-month run of the show this season, besting last year’s top figure of 578 million, according to the company that processes the votes for the show. (Hollywood Reporter)

Fox doing SIMS game movie
20th Century Fox has acquired rights for a feature adaptation of the popular life simulation computer game The SIMS from Electronic Arts. Producer John Davis (Norbit, Eragon) is on board to develop a live-action adaptation. The five-year-old SIMS is the best-selling PC game in history, with worldwide sales topping 85 million and $1.6 billion. Writer Brian Lynch (Scary Movie 3) will script the project. (Variety)

Osmonds reuniting for summer special
The Osmonds will reunite this August for a TV special commemorating 50 years in the entertainment business. Seven Osmond siblings — Alan, Wayne, Merrill, Jay, Donny, Marie, and Jimmy — will appear onstage together on Aug. 13-14 at The Orleans Hotel Showroom. Tickets to the shows are selling for $75 to $125, but fans can save their money and watch the a taped version of the event on PBS next March. (AP via Yahoo!)

Silver Surfer quarter put into circulation
Fox and the Franklin mint have put a Silver Surfer quarter into limited circulation ahead of the release of Fantastic Four: Rise of the Silver Surfer on June 15. One side of the coin features an image of the Silver Surfer character and the name of the movie’s website in tiny lettering. A total of 40,000 coins were released into the currency stream as California state commemorative quarters, minted by the U.S. Mint and color-enhanced by Franklin. This weekend, Fox will further promote the movie with an aerial show featuring 20 skydivers and a champion sky-surfer at the NASCAR Nextel Cup Series race at Lowe’s Motor Speedway in North Carolina. (Variety)

Simpsons writer/producer gets two new projects
Dana Gould, writer and co-executive producer for The Simpsons, has set up two new projects. The Last Larry is a zombie comedy for Comedy Central partially inspired by Shaun of the Dead. It is set in a post-apocalyptic world in which the few remaining survivors are trying to get on with their lives. Comedy Central is setting up Gould to executive produce, write, and star in the comedy. The scribe is also set to write Alternadad, the Warner Bros.’ adaptation of author Neal Pollack’s memoir, which revolves around the author’s attempt to stay hip in the face of fatherhood. (Variety)

Roadside picks up Chicago protest documentary
Roadside Attractions has picked up this year’s Sundance opener, the indie documentary Chicago 10, about antiwar protests at the 1968 Democratic Convention in Chicago and the subsequent trial of members of the revolutionary Yippie movement. The movie features archival footage from the protests and animation voiced by actors Hank Azaria and Mark Ruffalo, among others. Brett Morgen (The Kid Stays in the Picture) directed. It should release some time next year. (Variety)

IN THE GOSSIPS Gladiator actress Connie Nielsen and Metallica drummer Lars Ulrich welcomed their first child together on May 21: son Bryce Thadeus Ulrich-Nielsen.

Rush & Molloy: Britney Spears and Ryan Phillippe deny reports that they were making out at a club, claiming they never even spoke to each other on the night in question.