Pepsi Settles Ad Flap, Averts Boycott

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NEW YORK Urban music mogul Russel Simmons on Wednesday signed an agreement with Pepsi, stating the beverage company will donate at least $1 million annually for three years to as yet-to-be-determined nonprofit organizations that benefit the hip-hop community.

A six-member team, including a representative of Ludacris Foundation, will determine which charities will receive the money, according to a Pepsi spokesperson.

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