Michael Jackson has finally given up the ownership of the Neverland ranch. The pop king’s 2,500 acre Santa Barbara estate is now owned by Sycamore Valley Ranch Company LLC.

The property has been in troubled waters in the past going into default of $24.5 million and facing foreclosure before being bailed out by Colony Capital LLC earlier this year.

The Neverland ranch has been called Sycamore Valley Ranch before M.J. bought it in 1988 and turned it into a mini amusement park.

Everything is not lost yet as Jackson is actually in partnership with the Sycamore Valley Ranch Company LLC so he is still part owner of the ranch.

The 42nd annual awards show served as the Brad Paisley’s coming out party country’s jack-of-all-trades. The singer/guitarist had four nominations and won two awards, he repeated his 2007 victory as male vocalist and video. He opened the show with the song Start a Band, a duet in which he and Keith Urban pay homage to classic rock songs with quotes from them. And he co-hosted with Carrie Underwood who was also a winner with her third straight female-vocalist award.

Kenny Chesney won the big one, entertainer of the year, for the third straight year and fourth overall. George Strait became the Country Music Association’s all-time champ Wednesday night in Nashville when he picked up four CMA Awards to bring his career total to 22. Sugarland picked up its second straight duo award, and singer Jennifer Nettles won best song for writing Stay. Alison Krauss collected her ninth trophy and Robert Plant his first, as Gone, Gone, Gone won musical event. Lady Antebellum won new artist and Rascal Flatts won its sixth straight group award.

Overall a very entertaining night and a great one for country music.

Due to security reasons, Rihanna’s Indonesia concert is cancelled. This is while Rihanna while still in Australia and changed her mind because of the travel advisory issue to citizens in Indonesia after three Islamic militants were executed over the weekend for their part in the 2002 Bali bombings.

Rihanna was scheduled to perform before a sold out crowd of 6,000 in Jakarta, the capital city.

Acoustic Guitars magazine has teamed up with Cole Clark to give away a Fat Lady 3A Guitar to a lucky winner. The contest will end April 30, 2009 and the drawing will be on or around May 15, 2009.

The FL3A is a great sounding acoustic guitar which sounds awesome plugged or unplugged. It also has a 9-sensor pickup system including 3 FaceBrace sensors designed to capture the tones by the top of the guitar.

This Blackwood and Bunye pine guitar is valued at $3,579.99.

Click Here to enter the giveaway.