Source files for bankruptcy
The magazine once considered the Hip-Hop Bible, The Source has filed for bankruptcy. This comes after extensive problems over the last three years with former owners Dave Mays and Raymond 'Benzino' Scott who encouraged issues with advertisers and investors. The duo were ousted from the company in 2006, but the damage caused through falling subscriptions and sales has brought about the filing for Chapter 11 Bankruptcy.
The Source was founded in 1988 by David Mays and then partner Jon Schecter while studying at Harvard Business School in Boston, Mass.
Young Buck not involved in Shooting
Reports citing that Young Buck of G Unit was involved in a shooting that took place in a Washington hotel over the weekend have been vehemently denied by the rapper.Buck who is actually on parole has denied being involved in a shooting that took place in a hotel parking lot which led to two men being hospitalized and left Hotel patrons worrying for their lives. "We stayed at the hotel where the situation happened, I had no argument with nobody, I had none of my entourage involved in no fights. There were no robbers, or shooting between us or no other rappers" Young Buck told AllHipHop.com. The shooting took place after Buck performed at the local Club Paradise while on a promotional tour for his recently released Buck the World Album, his sophomore album.
It is speculated that the shooting actually involved local rappers who had been at the concert.