Wherehouse Goes Chapter 11

Listing $227.9 million in assets versus $222.5 million in debt, popular music chain Wherehouse Entertainment filed for Chapter 11 bankruptcy protection. This is second bankruptcy filing for the company in five years. The Associated Press reports that the company—who at one time operated 370 stores—will close 120 stores in the next few months; this is […]

Vivendi Universal Hit With Subpoenas In Murder Inc. Drama

According to the Los Angeles times, federal authorities served grand jury subpoenas at Vivendi Universal’s New York offices this week. The agents were seeking records related to royalties, invoices and other information, in an attempt to find financial ties between Murder Inc.’s Irv Gotti and Kenneth "Supreme" McGriff, a convicted Queens, New York drug dealer. […]

Angie Martinez Pregnant

Hot 97 radio personality Angie Martinez has gone on record admitting to a pregnancy that was speculated for sometime by industry insiders. On Jan. 21, the radio jock-turned-rapper made the announcement live from her radio show. Martinez refused to disclose publicly who the father of her fetus is, but she did state that she was […]

Funds Of Company Connected To Murder Inc. Seized

Last week, authorities seized a number of bank accounts of companies connected to Kenneth "Supreme" McGriff. The accounts of a company, Picture Perfect Entertainment, contained almost $500,000 in funds advanced by Irv Gotti’s Murder Inc. label. Picture Perfect was involved in the production of the soundtrack to the Murder Inc. movie "Crime Partners," which McGriff […]

Sony Dumps Will Smith

According to published reports, Will Smith has been dropped from the roster at Sony Music because of waning record sales. In addition, label heads reportedly believe that the young consumers of hip-hop no longer want the 34-year-old rapper/actor as a musician. Smith’s Born To Reign, failed to move a significant amount of units as it […]