Hip-hop star Ray Benzino has resigned from his position as chief brand executive and co-owner of THE SOURCE magazine, citing his longrunning feud with Eminem as one of the reasons.

Benzino stepped down from his position yesterday (08APR05), also blaming politics and other nearby business partnerships.

He tells website ALLHIPHOP.COM in a statement, "I want to step down from the magazine and sell my stock effective immediately.

"This is a big step for me. I've been consumed too much withthe 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."

But the star has vowed to press on immediately with a new venture, adding, "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."

09/04/2005 02:24