1. DreamWorks is in negotiations to acquire movie rights to Mattel’s View-Master toy; Alex Kurtzman and Roberto Orci, who worked on both Transformers films, would produce and Brad Caleb Kane, a writer/producer on FOX’s Fringe, is on board to pen the screenplay. [via Reuters]
2. A group of 14 new home designs for Brad Pitt’s New Orleans architecture project — part of multimillion-dollar initiative by his foundation to help rebuild the city’s Lower Ninth Ward — have been unveiled. [via LA Times]
3. Did you know Obama likes the Foo Fighters? They were asked to play the White House of the Fourth of July, and debuted a new song. [via Filter]
4. Michael Bay filmed Megan Fox washing a Ferrari during her Transformers audition and now he’s being coy about where the valuable tape is. [via NYP]
5. It’s the circle of life: Lady Gaga annoys Kelly Osbourne the way that Kelly Osbourne bugs us. [via NYDN]