As of April 27, The Source Magazine and Source Entertainment Inc. have filed for Chapter 11 bankruptcy. According to court documents, The Source has continued to struggle with its recovery from dishonest business practices and negative publicity brought on by former management. In early 2006, the founders David Mays and Raymond ‘Benzino’ Scott became involved in a bitter feud with a number of rivals, namely Eminem and 50 cent. After both ad revenue and newsstand sales plummeted the founders were ousted from the company by the investors. The Source stopped sending magazines to over 140,000 subscribers and magazine subscriptions dropped by more than 50% since 2002. According to an attorney for The Source, “the company will emerge from the bankruptcy successfully, as a ‘reorganized entity’.”by David Dennis & Robby Uppal
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