Lil Wayne Drops New Heat, Shady Records Signing Denied, Teen Rapper Gets A $1 Mil Deal?

Freaking Friday. It's freaking Friday, so why not get things started off right with some new music by Lil Wayne? Speaking of new things, did Shady Records just sign a new artist? With signings still on your mind, is a 15-year-old really capable of a $1 million record deal? All this coming up in SOHH Whatcha Think.

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1. They Say I’m Krazy

Are your ready for Lil Wayne’s “Carter V” album yet? If not, he’s giving you every reason you should with the release of a new track called “Krazy.” Ace Showbiz is on it:

After being previewed in the latest episode of “Weezy Wednesdays”, Lil Wayne’s new track “Krazy” arrived online in full. It came out via NBA star Chris Paul’s Twitter shortly after midnight on June 27.

The song features Wayne bragging about his current status over the menacing beats produced by Infamous. He also reflects on his past, rapping, “For my n***as on Rikers Island/ Back there playing Uno/ Getting swole like Popeye/ N***as walking around like Bruno.” (Ace Showbiz)

Are you ready to co-sign with Lil Wayne is cooking up thus far? #SOHHWhatchaThink?

2. Ring The Alarm

Is Shady Records ready to start signing new artists? It feels like forever since they announced a big signing and this week there was some big speculation. Los Angeles rapper Daylyt? MTV has the info:

First, there was his appearance on Ab-Soul’s album, These Days…, which he closes with an a cappella battle against the T.D.E. MC on the track “W.R.O.H.” That same day, Day posted a video where he spoke on moving away from battle rapping and signing to Shady Records.

“Big shouts out to Eminem for making that legit,” he says toward the end of the video. “Daylyt is an official member of Shady Records.”

However, while praising the rapper’s skill, a source at Shady has told MTV News that he has not inked a deal with the label.

“Daylyt is immensely talented and is cool with everyone up here but is not signed to Shady. #totalslaughter,” the source said. (MTV)

It’s going to be a big summer for some artists, could the attention finally be on West Coast artists? Is there a new wave of signings getting ready to go down? #SOHHWhatchaThink?

3. A Milli

Could a million dollar deal go to a 15-year-old? We’ve seen some big teen stars but one that’s famous because of an “America’s Got Talent” audition tape? TMZ has the scoop:

Chris Miles won’t have to worry about finding a summer job … the 15-year-old kid rapper just signed his first record deal … which could make him a millionaire.

Miles — who first shot to fame when his rap audition for “America’s Got Talent” went viral — inked a deal with Warner/Chappell to write and rap on as many as 5 albums.

According to the contract — filed in court and obtained by TMZ — Miles will get an $182,500 advance for the first album that’s released.

If the album does well, the next 4 combined could land Chris more than $1.5 MILLION … PLUS ROYALTIES!

Beats selling jeans at Gap. (TMZ)

Will this pan out or did Chris Miles get cheated out of making a real living as a music star? #SOHHWhatchaThink?

That about wraps it up for today. This is SOHH On The Spot giving you the morning scoop from your favorite gossip sites.