ALL ACHIEVEMENT, ALL EARNED RICHES, HAVE THEIR BEGINNING IN AN IDEA!

 


Jay-Z interested in buying The Source

Rappreneur Jay Z and partners Lyor Cohen, CEO of Warner Music Group and Steve Stoute, CEO Translation Consultation and Brand Imaging is reported to be in talks to purchase The Source magazine.

Steve Stoute, who earlier this year spearheaded a $10 million investment by Will Smith, Jada Pinkett Smith, Jay-Z  and other big-name investors in a Brooklyn-based beauty line called "Carol's Daughter" founded by Lisa Price, has been behind a number of major deals in the hip hop world lately.

The partners apparently could try to acquire the magazine directly from owners David Mays and Ray "Benzino" Scott or buy out the $16 million in debt owned by Textron Financial Corp., The Source's biggest creditor who's seeking to take control of the magazine due to disputes over how the company is being managed.

Harris Publications, the publisher of XXL, is also said to be interested in purchasing the magazine should it become available.

Jay Z was also reported to be in talks with Russian Billionaire Roman Arkadievich Abramovich(networth:$13 billion) the 21st richest person in the world according to Forbes Magazine, to buy a stake in the 119 year old Arsenal soccer club.

Could Mr. Shawn Carter be the youngest black person to appear on the Forbes 400? With all these business moves Jay Z has made over the past year it is not that big a strech.


If you like this article then please consider subscribing to our full feed RSS. You can also subscribe by Email and have new posts sent directly to your inbox. You can also subscribe by adding our feed to one of the following services by clicking on the appropriate buttons.


 digg.comgoogle.comYahooMyWeblive.comdel.icio.usask.comRedditstumbleupon.comTechnorati

Recent Articles

World's Most Powerful Black Women 2008

Condoleezza Rice is again the world's most powerful black woman according to Forbes magazine's The 100 Most Powerful Women list.

Carver Bancorp, Inc. Announces Management Change

Carver Federal Savings Bank, today announced that Chief Financial Officer Roy Swan has resigned to join a leading global investment bank, effective September 12.

Is Jay-Z Selling The 40/40 Club?

According to various sources Jay-Z is in talks to sell a 50% stake in his 40/40 sports bar.

Urban Trust Bank Opens a New Branch in Bethesda, MD

Strategy balances consumer and business market, emphasizes convenient, efficient locations and positions bank for expansion.

Oprah's Charity Car Collection Raises $716,000 For Charity

Oprah Winfrey's Charity Car Collection raised $716,000 at the 58th annual Pebble Beach Concours d'Elegance, for annual Arts and Culture Workshop at the Oprah Winfrey Leadership Academy for Girls.

Hip Hop Cash Kings 2008 Forbes Ranks The Earners

Forbes magazine has released it's second annual ranking of Hip Hop's top earners. Curtis Jackson aka 50 Cent tops the list earning an estimated $150 million over the past 12 months--almost twice what

Master P. to Launch Cable Network

Master P. is set to launch a new family friendly cable television network targeting African American's.


Urban Hustler Sponsors
Sponsor Urban Hustler  >

Loading...

UrbanHustler.com - From The Street To The Boardroom.

© Errim Styles Network. All right reserved.