What has become a whirlwind of events has culminated in The Source’s Raymond “Benzino” Scott stating that he is not leaving the magazine and has said the Def Jam Records is to blame for his decision.

In a press release that states that “Chairman LA Reid Pulls Def Jam Advertising From The Source After His Job Is Threatened By Interscope’s Jimmy Iovine” it is said that Benzino only resigned because he “heard that LA Reid was going to lose his job, I thought it was the right thing for me to do, to step down, because I don’t want any executive to lose their job over the beef between myself and Eminem.”

While it is known that Def Jam had pulled their ads from the mag because of their controversial positioning in hip-hop culture, it is a shock to see that this is what made Benzino consider resigning in the first place. Benzino now says that he will continue to grow with the magazine and “community leaders called an emergency meeting and told him he must not leave The Source.”

The release states that the ongoing Eminem lawsuit played a role in Benzino‘s decision and as Benzino states, “For the last couple of years I was speaking up for Hip-hop and going against one label’s manipulation of Hip-hop music and its culture”

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Benzino says that he will continue to make The Source bigger and better while “The Source needs to be preserved for future generations of Hip-hoppers.”

This has become a unique turn of events. But stay tuned to hiphopdx.com because the situation will become even more interesting once the controversial Reginald Dennis (former music editor of The Source) interview by J-23 goes up. An excerpt from the interview is as follows…

“Soon Ray would reveal himself as the “co-owner” of The Source — a secret so tightly held that no one, not even Dave Mays, knew about it until it was revealed in the Miami Herald one wacky morning. A Made Men album would finally receive a 4.5 mic rating and not long after that Ray would at long last find himself on the cover of The Source.”

Stay tuned to this incredible story as it unfolds.