Gossip & Gists: Beyonce And Jay-Z To Buy Michael Jackson's $100M Home

According to a very reliable source, Jay Z and Beyonce are interested in making a $100M offer on Michael Jackson's home- Neverland Ranch.

The home - which is located nearly 1 hour away from Los Angeles is Santa Barbara sits on nearly 2500 acres and is about 4 square miles of property.

The insider tells us that if successful, Jay and Bey plan on creating not only a home for themselves on the property - but a number of state of the art recording studios.

But it's not clear if the Neverland Ranch is even for sale. According to our snitch, there are a number of legal issues that have to be solved before the executors of MJs can even put it up for sale.

Gossip & Gists: Amanda Bynes Calls Jay-Z "Ugly Face" On Twitter, Promptly Deletes Photo

Amanda Bynes is back in the news, for even more random and head-scratching reasons than usual. She took a shot at Jay-Z of all people, amazingly.

The troubled 26-year-old posted a Tweet reading "ugly face" and then linking to a photo of the rap mogul ... then deleted it from her feed a bit later. Could Amanda Bynes' Twitter account have been hacked? Or did she simply share a random thought about Jay-Z before she thought better of it?

Probably the latter. For what it's worth, the rest of Bynes' tweets from the last few days meanwhile consist of brief, benign and mostly cheery updates on her activities. The actress, or "retired" actress as she's been known to call herself, has been loving life in New York (and taking self-portraits of herself apparently).

Dissing Jay-Z is the least of Amanda's 99 problems in any case. Beyonce's husband has been on top of the world personally and professionally these days, while she's been reeling in the past year to put it mildly. Misdemeanors hit-and-runs, a DUI arrest, traffic violations, face piercings, possibly walking around a tanning salon nude, getting evicted... the list goes on.