Rob Lowe forming new media venture, writing memoir News leading up to the July 4th holiday can get sleepy as many industry people hike out of town for the holiday.

But Rob Lowe is setting off fireworks.

First of all, the actor is in talks with Tom Barrack, President of Colony Capital which co-owns Michael Jackson’s Neverland Ranch, Formula One player Flavio Briatore and C London restaurant owner Giuseppe Cipriani to form a $500 million multi-media company ala DreamWorks per TMZ.

The company will encompass internet, movie and TV production.

EW writes that Lowe is writing a life’s memoir called “Stories I Only Tell My Friends” set to hit stores in May 2011.

Lowe recently guest-starred in NBC’s “Parks and Recreation” after leaving ABC’s “Brothers and Sisters.” “Parks” is expected to return in spring 2011.

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