Wednesday, July 13, 2011
News: No Label For Lloyd Banks
When 50 Cent signed G-Unit artist Lloyd Banks over to EMI, the plan was to set up his longtime Queens, New York friend as an artist who could work independently, without his help.
Fifty told MTV that Banks' "The Hunger for More 2", which was released last November, was the project that set the trend. "Banks' project is the beginning of him flying solo, flying without my assistance so much," 50 said.
Fifty used to lend his guidance as well as his voice to his artists' albums. It's been reported that Banks' EMI deal is structured much like an indie. Even though EMI is a major distributor, G-Unit has taken the reins when it comes to positioning the rapper in the marketplace.
There was a rumor that Lloyd would sign to Def Jam and the deal would give him his own label. Fifty without saying it directly, shot down the notion of the Def Jam deal, citing the label's supposed-financial woes.
"Well, Def Jam, I'm not even sure what that system, that system is not in a good space right now. They're like $80 million in the hole," he said, before laughing, "Don't tell them I told you."