"In the wake of a messy sexual harassment lawsuit, hip-hop magazine The Source is wrestling with a host of financial, advertising and circulation woes, sources told The Post.
In recent months, insiders said The Source has defaulted on a multi-million bank loan and withdrawn from the Audit Bureau of Circulations, the chief auditor for circulation in the industry."
"Last year, it was down 11.3 percent in pages to 1,040.62 and this year it appears likely to fall below the magical 1,000 page barrier.
The magazine's ad revenues were down 13.9 percent to $5,972,905 and its ad pages are down 16.1 percent to 175.33."
David Mays, the chairman, did not return calls.
"He did not return calls because he said you're irrelevant," said Scott. "He told me to call you back. Our personal finances are none of your business."
Previous posts
Jeans and Hip-Hop
Reginald C. Dennis on The Source
West Coast Peace Treaty
BlackElectorate.com on Sharpton's Townhall Last We...
Random Thoughts On The Thing
Davey D on Benzino, Mays, and Sex In The Industry
SOHH.com on The Source
Danyel Smith on The Source
Benzino On The Lawsuit
Adisa Banjoko on Jimmy Iovine and The Source
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3 Comments:
After I read Reginald Dennis' interview, I definitely got the sense that Benzino and Mays have some kind of romantic (albeit abusive) relationship going on. anyone else get that?
I definitely got the sense that Benzino and Mays have some kind of romantic (albeit abusive) relationship going on
people have been speculating about the nature of their relationship for years.
1. "romantic"
2. blackmail/strongarm extortion of some sort
3. dave needed a "tough" black guy repping for him in the hip hop universe
4. Z gave M money early on, and has never let go
whatever the case, the relationship is, as you stated, abusive. extremely. what we are watching is the slow downward swirl of an entity, a magazine, having a nervous breakdown. Z the megalomaniac and his weakened partner-in-crime M are dead but too dumb to lay down. Anyone here read Of Mice And Men? Think of the main characters, and you've got almost got Z and M.
and re the ABC numbers? It's worse than I even thought.
TRAGIC. Pitiful. Hip hop deserves more than this.
I bet Lenny would have been a better MC than Benzino.
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