(AllHipHop News) Former Cash Money Records’ artist Magnolia Shorty was recently shot and killed in New Orleans.While

details are sketchy sources told AllHipHop.com that Magnolia Shorty was

shot at least 26 times in her new Orleans neighborhood.She was given her rap name by late rapper Magnolia Slim, who also hailed from the notorious Magnolia housing projects.She was also discovered by Bryan “Birdman” Willis.Magnolia Shorty, Renetta Lowe, was also the second female artist to sign with Cash Money Records.Just months before her death, Magnolia Shorty was a featured artist at the SXSW Festival in Austin, Texas.”I

wanted to be a rapper. I’ve been rapping since I was 12 years old,”

Magnolia Shorty told Spinner.com. “I was working on mix tapes and my

verse while rapping at block parties. I eventually got introduced to

Cash Money Records and we just went from there.”

(AllHipHop News) Former Bad Boy rapper G-Dep is already causing controversy in the recording industry, with the release of the new single “Only My Way.” G-Dep, who inadvertently confessed to a 17-year-old murder, will drop the new single on January 25th with rapper Chi King. The track, which is being released on Protekted Records, comes on the heels of the former rap star’s admission to shooting and killing a man during a botched robbery in 1993. In an interview with The New York Post, G-Dep, born Trevell Coleman, revealed that he had no idea that John Henkel, the man he shot, had died from his gun shot wounds. “The whole thing is eerie I’ve never met or had any contact with G-Dep, but Chi told me that he was very nice, very humble — but there was like a dark cloud over his head,” Protekted Records boss Jon Gornbein told The New York Post.David Banner’s Heal The Hood Inc. hosted its annual gift giving program last Saturday (December 18th) in Jackson, Mississippi. The rapper provided Christmas gifts to 15 needy families and 10 young men from a local homeless shelter. The event, now in its fifth year, gave gifts tailored to each families specific needs. The recipients were families headed by single parents, living in improvised conditions. Later in the evening, David Banner treated families and men from the local homeless shelter to a concert featuring Big K.R.I.T. and Wiz Khalifa. “It’s just to try to bring sunlight to families who just may not have the opportunities and may not have the finances to do the same. For me its important to be able to help and to come back to the community that I’m from and to give back, Banner told local WLBT Channel 3.According to sources, Foxy Brown is preparing to reignite her beef with Lil Kim with a new single set to debut Christmas Eve. According to sources, Foxy Brown recently finished a diss track to Lil Kim titled “Christmas Massacre.” Foxy will debut the track, which was produced by Daddy Bigg$, on December 24th during a Holiday party hosted by K. Foxx of Hot 97FM, at Club Jelani’s in New York. There, Foxy will address her issues with Lil Kim, which most likely stem from a line on Lil Kim’s “Black Friday” diss to Nicki Minaj. On Black Friday Lil Kim rap’s the line: “This the s–t the other b#### almost got killed for.” Additionally, she name check’s Fendi, Foxy’s former manager, and a former manager for Nicki Minaj. Lil Kim served a year in prison for lying to a Grand Jury about her knowledge of a 2001 broad daylight shootout in New York between members of her entourage and men associated with Capone-N-Noreaga, who had just released “Bang Bang” from their album Reunion.

(AllHipHop News) Brooklyn rap star Talib Kweli will headline the annual “Twas the Night After Christmas” holiday celebration on Sunday (December 26th). “Twas the Night After Christmas” will feature performances by a variety of solid Hip-Hop acts, including Jean Grae, West coast veterans Strong Arm Steady, Joell Ortiz, Red Cafe, Mickey Factz, Shawn Pen and others. The concert, which is being produced in conjunction with AllHipHop.com, Jill Newman Productions and management company Blacksmith, is taking place at the Highline Ballroom in Manhattan, starting at 8:00PM. “The Blacksmith Holiday Show is an opportunity for us to showcase the great talents of Talib Kweli, Jean Grae and SAS along with many other talented artists and surprise guests,” Blacksmith CEO Corey Smyth told AllHipHop.com. “‘Twas the Night’ has become our tradition and we hope to continue to give the people great music and fun for years to come.”In related news, Talib Kweli will executive produce Strong Arm Steady’s new album Arms & Hammers, which is due to be released February 1st, through the Blacksmith Music imprint.To view more information or to purchase tickets in advance, click here.