ELIJAH WOOD - ELIJAH'S RECORD LABEL DREAMS

Movie star ELIJAH WOOD is planning to branch out into music in a big way - by setting up his own record label.

The LORD OF THE RINGS star has recently moved from Los Angeles to New York, and the music scene in the big apple has inspired him to do something for emerging bands.

And now he's planning to sink his movie money into a new label.

He says, "I want to start a record label, and find bands and release records. I've thought seriously about that. I've been lucky enough to meet a lot of people that I respect, in the music industry, that I feel will be a good guide for me to get started.

"I've got a good base. I don't know when I'll start it, but it is something that I will start, at some point."

And one artist he'd love to have on his roster is his Lord of The Rings castmate VIGGO MORTENSEN.

He adds, "I actually just recorded on a record of his - DOM (MONAGHAN), BILLY (BOYD) and I went into the studio and played music on Viggo's new album. It's amazing."