Friday, April 8th, 2005

Benzino Quits The Source

I didn’t believe this when Davey D told me. But here it is.

From the official press release:

April 8, 2005, New York, NY- Ray Benzino, Co-founder and Chief Brand Executive of The Source will step down today from his position. He says, “I want to step down from the magazine and sell my stock effective immediately.”

Benzino continues, “This is a big step for me. I’ve been consumed too much with the whole conflict thing… the Eminem suit and I am sick of it. I don’t want to take away from what The Source has built up but I got issues with The Source and magazines like that. Everyone is too politically correct. They’re not thinking about the little guy who can’t afford to pay for high priced ads. It’s like a monopoly.”

“Our other partner, Black Enterprises, is another reason why I’ve decided to leave. I don’t like how they perceive me. There are too many things that I don’t agree with so I am moving on.”

Benzino concludes, “I plan on creating another magazine that has my voice which represents the little guy. It’s because of the manipulation of Soundscan and radio that Hip-Hop is losing its edge. I want to come out with a magazine that will reflect that. I want to start from the ground up and speak for the artists.”

posted by Jeff Chang @ 11:02 pm | 0 Comments

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