Pamela Anderson has allegedly reduced the asking price of her Malibu home by $2.75 million.

The former 'Baywatch' babe put her ''magical spot'' on the market in February for $7.75 million after a year of renting out the five-bedroom property, which she spent years renovating to turn it into an eco-friendly ''masterpiece'', but it now has a price tag of $5 million, according to gossip website RadarOnline.com.

Pamela Anderson is selling her Malibu home for $7.75 million.

The former 'Baywatch' babe is finally ready to part with her ''magical spot'' after last year opting to rent out the five-bedroom abode, which she has spent years renovating to turn it into an eco-friendly inspired ''masterpiece''.

Pamela Anderson is going back to therapy.

The former 'Baywatch' babe - who was the first voted off UK TV show 'Dancing on Ice' last night (06.01.12) - says she is planning to return to her long-standing therapist after enduring a tough few years.

Pamela Anderson wants to live with rescue animals.

The 45-year-old beauty - who has sons Brandon, 16, and Dylan, 14, with ex-husband Tommy Lee - is a staunch vegan and animal rights campaigner and would love to open her home up to abandoned pets in need of care in the future.

Kanye West's lawyers have issued a letter warning against publishing images from his sex tape.

A legal team acting on behalf of the 'Monster' rapper confirmed the X-rated video has been stolen from his computer and anyone posting any of it online will face serious legal repercussions.

Tommy Lee has banned SeaWorld from using Motley Crue's music.

The drummer was enraged when he heard the aquatic theme park wanted to use rock music for new killer whale display show 'Shamu Rocks', as he believes it is cruel to make the giant sea mammals perform for entertainment.