Shawn "Jay-Z" Carter may be making a bid to buy The Source magazine.
The rumor shouldn't be shocking to those close to the rumor mill, but the talk has steadily gotten louder, especially after music mogul Steve Stoute interviewed on Hot 97 yesterday (Nov. 3)
Women's Wear Daily reports that Jay-Z, president of Def Jam, could be joining forces with Lyor Cohen, CEO of Warner Music Group and Stoute, who heads up his own company, Translation Consultation & Brand Imaging.
Previous published reports have indicated that The Source is $16 million in debt, a claim made by Textron Financial Corp, the company's chief creditor.
The company is seeking to take control of the magazine due to disputes over how the finances and the company is being managed.
In addition to Jay-Z, Cohen and Stoute, magazine rival Harris Publications, who owns XXL, may also attempt to purchase the "bible of Hip-Hop" should it become available.
Interscope Records recently purchased a stake of Translation Consultation and Brand Imaging, which has matched Jay-Z with Reebok, Gwen Stefani with Hewlett-Packard, McDonald's with Justin Timberlake and Beyonce with Hilfiger.
Source: AllHipHop.com
Full Version: Jay-z To Take Over The Source!?
It would gain source back respect and I would start buying it
| QUOTE (Infinite @ Nov 5 2005, 12:15 PM) |
| Previous published reports have indicated that The Source is $16 million in debt, a claim made by Textron Financial Corp, the company's chief creditor. |
wow i didn't know that...but i think that would be a good move for Jay to take over the Source, i might just start buyin' it again 
| QUOTE (GuNiTsHaWdEe83138 @ Nov 5 2005, 03:44 PM) | ||
wow i didn't know that...but i think that would be a good move for Jay to take over the Source, i might just start buyin' it again |
i wud b a ressurection 4 the source but does n e 1 think he cud b doin this to try an piss g-unit off? cuz if he had ownership of a mag which hav beef with g-unit then thats sure to annoy and start up sum shit with the whole callin out names and beef shit
i think that made sense
o ye an even if he did i stil wudnt buy it cuz if its still got the same type of writers it'll still b a pile of shit
| QUOTE (Infinite @ Nov 5 2005, 03:51 PM) | ||||
i wud b a ressurection 4 the source but does n e 1 think he cud b doin this to try an piss g-unit off? cuz if he had ownership of a mag which hav beef with g-unit then thats sure to annoy and start up sum shit with the whole callin out names and beef shit i think that made sense |
That would make sense, and if Jay did do it everyone know 50 would be throwin his two cents in cuz he does about everything
, i guess we'll have to wait and see
yeah the only way i'll cop the mag if whoever takeover get a better team.and supposely it's not just jay and them interested also xxl. so that'll be interesting their rivals taking over their mag. this shit reminds me when i was working under clear channel. they took over all together like 5 radio stations. 106 kmel was beefin with wild 94.9 and next thing ya know we all had to work for both at one time. the industry is crazy never know who ya boss maybe the next day. like they say don't burn bridges too. some peeps from xxl they may need or vice versa.
gonna be interesting to see who gets they mag though.
gonna be interesting to see who gets they mag though.
If Jay took over the source would that mean he fires Benzino and dave mays? cus those dudes just bring the shit down.
Jay-Z is too smart, he'd reorganize the entire staff on The Source. I agree with everyone, he'd definitely turn it around.
Usually when a company gets bought out the new owners clean house .......
I could see Jay doing this , remember that line off of 99 problems ....it went something like : magazines wanna put my face on the cover so they could get more money for adds
I could see Jay doing this , remember that line off of 99 problems ....it went something like : magazines wanna put my face on the cover so they could get more money for adds
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