Luther Campbell Takes Luke Entertainment Group Public

 •  XXL Magazine  •  by XXL Staff  •  37 Comments

On Monday (December 3) Luther Campbell announced that his company, the Luke Entertainment Group, will be publicly traded on the Nasdaq exchange pink sheets under the stock symbol LKEN. The company is comprised of a digital media arm, a sports management division and an independent music division. Shares will begin trading in this month. Luke, who will serve as chairman and chief creative officer, has appointed internet entrepreneur Victor Nappe as CEO. Nappe has consulted for Fortune 500 companies and has chaired e-commerce advisory panels for the U.S. Congress, Kaiser College Business School and others. “The Luke Entertainment Group going public is an important milestone for Hip-Hop music,” Luke said in a statement. “The Luke Entertainment Group will be an example of the influence Hip-Hop music has on the economy and how our culture directly impacts technology and consumer spending. This will also serve as an opportunity for me to teach the Hip-Hop culture the power of investing, as many people are probably unfamiliar with Wall Street and how it can help improve your long term wealth.”

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  • ATL = All Trannies Live

    This is the story of the year. Black man collecting “WEALTH” not just getting rich.

  • Deez Nutz

    Thats is huge…he might not benefit the most from it but he opening the door. I always wondered why nobody ever considered this…this potential is unlimited…Now this is something XXL should be doing a cover story on…progression in hip hop, not setbacks

  • Timbo

    I agree that XXL mag should be reporting on this in-depth. it pains me to say it and to make the comparison, but despite a lack of integrity from the publishing side, The Source already brought it when it came to journalism and reporting into the wider ‘hip-hop’ picture. XXL needs to focus on things like this as well as the music.

    It’s a shame that most teenagers would never glance at a Luke magazine cover on floating his company but will buy a Lil Wayne cover. It’s a greater shame that XXL would probably never dare take a risk and do it anyway.

  • heebyjeeby

    Word to the wise: Pinksheet stocks are very dangerous to invest in. They are usually small start-ups which exist solely to raise $ by selling stock and to pay their exes large salaries. Pinksheets aren’t traded on a traditional stock exchange and do not have to comply with regular filings; As such there is limited information on these companies. Given Luther Campbell’s history of not paying royalties to his artists, I would be very, skeptical in investing in this corp. Also, I point to Luke’s mishandling of Luke Records and the multiple Chapter 11 bankruptcy filings.

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  • British B

    HeebyJeeby u a hater a bitter motherfcuker. You sound like you blatantly googled Luke for the negative shit. Y dont you educate us on wht u require to get on the index..

    So fcukin what this is a fcukin milestone this is a power move.. Has Jay-z or anyone of the CEOs that makin mills off us given us a insight or door into the makin white paper I dont think so.

    Anything is a risk cause u can see the potential we all can see u hatin, who gives a fcuk about bankrupcy any1 that knows what that is then they know that dont mean shit.. master P went bankrupt is he broke is he a failure no.. You a fcukin hater.. U need a prayer.. You dont have to drink from the well if you dont want 2 luke aint forcin nobody but when these shares are microsoft money we’l c. We do run hip hop not u haters..

    • Caine

      Damn Lil man, calm down. Homie just dropped a gem. U sound like da bitter one to me. Go educate yourself on how to read and type befor you go being all belligerent and shit.

  • Don’tBelieveTheHype

    You can tell when someone doesn’t have an argument when they start yelling “hater!”…
    Good lookin’ out HeebyJeeby. I don’t see why giving someone truthfull information and sound advice would be “hatin’” but I’m probably a hater too.
    Who cares if Master P or anyone else has cash? If they filed bankruptcy I want to know about it if they are asking for an investment from me.

  • ANTO

    as nasdaq as he wanna be

  • Jay

    Huge for hip hop!!!! if you aspire to be in the music industry you should be excited. More money means more opportunity for all of us.

  • CED

    Yes, it is all for show! Now, his stock is worth less than $2 on the NASDAQ, as of yesterday!

    WE ARE IN THE LAST DAYS!

  • heebyjeeby

    If my post was written because I am a hater and bitter, then put your money where your mouth is and buy some of his pinksheet stocks. In about a year or so you will be joining the countless numbers of disapointed shareholders who are devastated when you start to see that executive salaries and “transportation” expenses account for 60-75% of the $ raised from the sale of shares, and that company cashflows and revenues are at about $50.00, or are negative. Happy investing.

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  • http://www.cdbaby.com/mrpain mr.pain

    http://www.cdbaby.com/mrpain i’m happy to see hip-hop going up. making power moves doing my thing. http://www.cdbaby.com/mrpain holla back

  • British B

    LOL this shizzle be funny… Your points are valid.. I should of been abit more clear..

    Ok let me re phrase it..

    Y would anybody b against a black man trying to share the wealth accumulated by a industry created and supported by us amongst us all!!!! or be aginst enlightening those who do not know and the youth comin up on how to get different dollars other than dirty dollars

    Who gives a fcuk if he fell off his bike a few times he is tryin and showing you cann get up again even if your busines fails once..

    If we learn these hustlenomics with sumthing we can relate to then there aint no reason we cant transfer the skills and knowledge good or bad to other trading markets

    Over here we can just about get a video on screen never mind publishing or radio air play so being gratefull for the chances you lot got..

    And finally heebyjeeby and Don’tBelieveTheHype would you like to trade some of my pounds for some of your dollars today….

  • http://www.lukerecords.net Luther Campbell

    For the people that think what i am doing is good bizz i thank you. An for you that think what i am doing is bs then i say this to you people said the same thing when i was the FIRST to start my own hp rec luke records 20 years ago they said you can’t start a rec com you got to be with the big boys an luke you are not from NY.I love what i see in the game today this is the next step for us all if you can’t see it then in 20 years from now you will be like all others an say master P was the frist.Thank you for your time
    LUTHER R CAMPBELL

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