Chief Keef’s Interscope Deal Revealed To Be Worth $6 Million?

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According to MTV News

the two deals can bring Keef more than $6 million in earnings if certain sales goals are met — and that’s not counting the income he could potentially earn from future royalties. Interscope agreed to pay Chief a $440,000 advance; half of the sum was paid up front and the other half will be paid after a judge approves the advance. Court papers state that the advance is to be placed in a trust fund controlled by the rapper’s grandmother and then made accessible to Keef when he turns 18.

The rapper received an additional $300,000 to cover the costs of recording his debut album, Finally Rich, which was released in December and features appearances by 50 Cent, Rick Ross, Young Jeezy and Wiz Khalifa. If the “I Don’t Like” rapper doesn’t sell at least 250,000 copies by December 2013, Interscope can pull the plug on the deal. Finally Rich sold approximately 50,000 copies in its first week of release and has since moved about 100,000 more.

The label deal for GBE is a separate three-year agreement in which Interscope handed Keef and his team another $440,000 in the form of an advance, plus an additional $200,000 for overhead expenses and operation costs. Interscope can terminate that deal if GBE tallies losses exceeding $4.5 million.

93 Feet East Set For Closure Following Massive 2012 Raid

From Gigwise:

In December a ‘Benny Hill-esque’ police raid saw 175 police officers storm the venue, and the club’s licence was revoked after ten people were arrested, reports The Stool Pigeon.

The raid, which was part of Operation Condor, saw 93 Feet East temporarily close its doors, but now its licence has been revoked by the council it will be closing for good.

Deputy Mayor of Tower Hamelts, Ohid Ahmed, told The Evening Standard: “The decision on 93 Feet East’s licence demonstrates that we are prepared to take swift and decisive action if bars are found to be allowing drug dealing and drug misuse.

“Through continued partnership working between the council and police, including the dealer a day initiative, we will continue to go the extra mile to tackle drug dealing in our community.”

The Roots Announce Next Album Title

the-roots-the-comedy-awards-2012-02The Roots plan on releasing a  couple of projects this year and ?uestlove gave an update with Billboard on their collaborative project with Elvis Costello.

The initial plan was to cut just a few tracks, but those sessions proved fruitful enough for the artists to keep going. Says Thompson, “we had 13 or 14 songs, but then we said, ‘Ooh! Wait a minute! Let’s replace four of these songs with four better songs! And now we have the tightest 12-14 song collection out of about 20 songs that we made.”

The band also revealed the title of their next album, & Then You Shoot Your Cousin which  released this year or next. Check out the lineup for their annual picnic in Philly on June 1st.

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Faith Evans On Wendy; Speaks On B.I.G., Lil’ Kim & More

Faith Evans opens up about her relationship with Notorious B.I.G. and reveals the striking similarities between Biggie Smalls and their son.

Plus, find out if Faith believes that they will find the person responsible for Biggie’s murder.

Then, Faith talks about the day she found Lil Kim in bed with Biggie and reveals if she has forgiven Lil Kim for sleeping with her husband.