WU WOO!

IT’S THE question of the moment for music-industry insiders – how do you get a piece of that ohso- powerful reggaetón dollar? With radio stations altering their formats, TV moguls pumping out new reggaetón-heavy channels, and eight out of 10 Latin records sold in New York coming from the genre, record-label bigwigs are joining the fun.

As we reported last month, hiphop mogul P.Diddy announced Bad Boy Latino. Now, Jay-Z and RZA of Wu-Tang Clan are spearheading new labels catering to urban Latinos.

Insiders say Jay-Z will unveil the emergence of Rocafella Latino, which hopes to do for reggaetón what Def Jam did for rap in the ’90s. Hector “El Bambino” is said to headline the label.

But perhaps most interesting is the creation of Wu-Tang Latino. Latin Flavor founder Ray Acosta will manage the label and recruit talent, with RZA doing a hefty amount of production. Acosta, who worked as the creative director of the Wu-Tang enterprises during their early days, approached RZA with his innovative concept. The respected musician and producer co-signed on Acosta’s vision.

“RZA is a top dog in Hollywood,” Acosta says of why he teamed up with the man known as “The Genius.” “He does scores, talent searches and soundtracks. He’s done both ‘Kill Bill’ movies and the ‘Blade’ trilogy, and he’s working on the ‘Miami Vice’ and ‘Kill Bill 3’ scores.”

“We want to take this movement to the next level,” he adds. “We can put American artists in our music to cross over and, at the same time, [RZA] wants to take Latino artists and put them in scores and soundtracks, even cast them in the movies.”

So will Acosta be chasing after the current top dogs in Latin hip-hop and reggaetón? He insists he’s not interested. “I want fresh new talent. If I’m starting a label that’s fresh, I want everything to be fresh.”

Part of his “fresh” artist roster includes Rameses, Ruster,NP Killah and Shawn Black, and Gil and Game G. A compilation album will drop in August. – Celia San Miguel

Serenading Lohan

BONY actress/singer Lindsay Lohan got a surprise from a Latin hunk on the set of her upcoming flick, “Lady Luck.” No, not Wilmer Valderrama. The treat came from Puerto Rico-raised Cuban singer, Carlos Ponce, who co-stars in the film as her gigolo neighbor. Ponce let the vanishing actress listen to a recording she did of his song “No More” five years ago, when she was a tender 13-year-old. “She was pretty flipped out by that,” Ponce told us of Lohan’s reaction. “She didn’t realize I was a [song] writer when I got cast for the movie.” Unfortunately for Ponce, the song isn’t on any of Lohan’s albums — at least not yet.

We Hear . . .

THAT 27-seven-year-old boxing champ, Colombian and Mexican Diego “Chico” Corrales, who destroyed Jose Luis Castillo in Las Vegas last month, is a lady magnet. His beautiful wife, Michelle, shared that female fans lift up their shirts for him to sign autographs on their boobs. “He’ll sign a shirt or he’ll sign a picture, but he’ll say, ‘I can’t do that [and] disrespect my wife.'” . . . THAT Sarah Loarte, formerly of Major League Baseball, is making a major announcement on Friday at Jay-Z’s 40/40 regarding Caribbean Baseball. . . . THAT style icon Oscar de La Renta got an honorary doctorate degree from City College.

Nadine’s Nups

WHEN we asked Chicago-born Boricua actress Nadine Velasquez what she’s best known for, she giggled, “My poses in Stuff magazine.” Velasquez, who stars with Jason Lee in the NBC fall pilot “My Name is Earl” will wed Mark Provissiero, a literary agent for William Morris, in Costa Rica in July.

Overheard. . .

ROSIE PEREZ and Lupe Ontiveros were comparing frontal assets backstage at the Cielo Latino Aids event two weeks ago. Ontiveros told Perez that her mommas are real, but the Brooklyn diva shot back, “Mine are too! They just keep growing on their own.”

Guessing game

WHAT married-with-children Grammy-winner is rumored to be bedding down a female singer on whose album he performs a duet? His wife is a model, the mistress is an up-and-coming female songstress. Funny thing is that there has always been speculation that the hunky crooner is gay.