Denials were being issued over reports Justin Timberlake was part of a group looking to buy the historic Sun Records label.

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The Memphis Commercial Appeal reports Sun Entertainment Holding Corp., which bought Sun Records and moved it to Nashville in 1969, is looking to sell the label famous for recording the young Elvis Presley, Jerry Lee Lewis, Johnny Cash, Roy Orbison and Carl Perkins.

Brothers John and Shelby Singleton said Memphis Music Foundation President Rey Flemings told them Timberlake was part of an investment group interesting in "bringing Memphis music back home," the Commercial Appeal said.

Flemings, however, says he never mentioned Timberlake's name during his meeting with the brothers. And a Timberlake spokesman told the newspaper the pop star had no plans to invest in Sun or its music catalog.

Shelby Singleton also said an investment group led by U2's Bono has approached them about buying the label.

"There are a lot of people who have come around and kicked the tires, but nobody has brought any money," he said.