Ananova:

Justin Timberlake is planning to launch his own record label.

The 24-year-old former 'NSync singer and his manager Johnny Wright are teaming up with Atlantic Records in the US to set up their own imprint.

The label has still to be officially given a name, but already Timberlake and Wright are preparing its first artist, a young Memphis singer with whom Justin grew up, reports Fox News' Roger Friedman.

Timberlake is currently working on the follow-up to his debut solo album 2002's Justified.

He recently guested on rapper Snoop Dogg's track Signs.