Rumors: Diddy Loses Entire Bad Boy Catalog + LA Reid Fired? + Guru Update

Sources who work for BadBoy is reporting that the Bad Boy that we once knew is no more. Not only that most of the artist are not really aware of what is going on. Sources are reporting that in Diddy’s contract he had with Atlantic, that if he did not make a certain amount of dollars in record sales the major label was to snatch up the entire BadBoy catalog. More Below.

The word is that Diddy lost his catalog as of October of last year. Of course I find this rumor completely absurd because we all know how selfish Diddy can be. How ever that may explain why he jumped to Interscope. You don’t even hear Diddy promoting Badboy anymore as much as he is promoting that new group he has been working with. That also may be the real reason why he let Mase out of his contract. We will let you know as soon as it get’s confirmed.

Speaking of record label woes the word on the street is that LA Reid may soon be getting his walking papers. Now let me put you up on game about something. We heard this rumor sometime in November of last year but after LA did that multimillion dollar Shyne deal the rumors are now starting to resurface. We were told the sole reason is because LA has been signing acts that had no selling power. From our understanding Def Jam put out 10 albums in 2009 and only sold 4 million records. That is not a good look. Not only that, acts that have fan base power such as Method Man and Red Man got no promotion when their album dropped this year. Hardly anybody knew anything about it. So much for the one hit wonders, the artist’d who can only sell singles and ring tones SMDH.

Not only that we also heard that Sylvia Rhone may be in the hot seat but maybe not so much since Cash Money and Young Money seem to be snatching up artist who understand stand how to build a fanbase. shouts out to hip-hop since 1978 management we see you working.

Guru Is Alive and Well and had a successful surgery

gangstarr1 is reporting “Guru is alive and recovering from his surgery. Doctors are expecting a full recovery luckily,”.

Today, we are lucky to not have lost a Hip-Hop pioneer. After suffering from a massive heart attack and falling into a coma, 43 year old Keith “Guru” Elam will hopefully be back on his feet again.

Guru, along with DJ Premier, started the legendary rap group Gangstarr.

Yay for Guru I was worried that he was not going to make it with all the twitter hate saying he was dead.

Photos: T.I. is not on twitter
Last night everybody was making a big hoopla about T.I. being on twitter with the user name @Tip. The acct has been verified by twitter and everything but according to T.I.’s long time girl friend Tiny Cottle, she tweeted that T.I. never created an acct on twitter. T.I.’s fake acct stated “major announcement coming Monday 3/8 @ 5pm EST on #kingsback”
Remember that video that T.I. Put out about him never using twitter? Hmmm

Congratulations to Christina Milian and the dream for having a baby girl. People is reporting that the singer
-actress delivered daughter Violet on Feb. 26, a friend saying the baby has “a full head of hair.”

Actor Morris Chestnut in debt to the IRS

And Morris Chestnut also owes some serious loot to the IRS. The IRS filed a $215,817 lien against Morris and his wife on Jan. 7 with the Los Angeles County Recorder of Deeds. His publicist says, “It’s not that he’s not going to pay it. He knows he’s going to pay something.” Theybf

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