Lloyd Banks To Announce New Record Label Home

Lloyd Banks To Announce New Record Label Home

G-Unit‘s Lloyd Banks will reportedly make his long-awaited new record deal announcement after teasing fans about rumored talks with Def Jam and Interscope Records.

According to reports, the “Punch Line King” will reveal his new label on Friday, August 13.

G-Unit member Lloyd Banks has a new contract. After months of speculation about where his upcoming LP, The Hunger For More 2, would be released, 50 Cent has secured a new distribution deal for the Punch Line King. Banks will announce his new home Friday at 1 p.m. ET on “RapFix Live.” Of course, Banks is still signed to G-Unit, but since the release of his 2006 LP, Rotten Apple, fulfilled his contractual obligation to Interscope, the Southside, Queens, native has been operating as an independent artist. (MTV)

Last month, Capitol/EMI Vice President of Urban Promotions Craig Davis initially said Banks and 50 Cent joined the team of rap stars on the label.

“Now I’m over at Capitol Records and got a great roster over at Capitol,” Davis said in an interview. “…We just signed a 50 Cent deal over there….50 thought he needed to get out of the Interscope machine, he wanted to do a new change so he got his release from there, we were in negotiations with him and the deal just got signed very recently. And now we got 50 Cent on the label, I think we’ll probably have Lloyd Banks cut in his first cut and then 50’s gonna come out later on.” (Pyramid TV)

50 Cent later called into “G-Unit Radio” and denied the accusations.

“That guy, I don’t know what his name is, the guy that [said that], he’s an idiot,” 50 said when asked if he signed to Capitol. “Okay? And there’s no deal done. He’s an idiot — he’s running his mouth. Out of nowhere he just comes out, you can tell he’s a little drunk or some sh*t…Interscope, all the success that I’ve had has been with Interscope.” (“G-Unit Radio”)

In June, Banks said he was still open to signing with Interscope.

“They still got time,” Banks told radio personality Funkmaster Flex referencing Interscope Records. “They gotta drop the bag. I’m not staying no where longer than I got to. When I signed my first deal, I had a sweet deal. Millionaire dollar advances and things like that. You’re not taking none of my publishing, none of my merchandise, none of my touring, you can’t get that. And I’m not making no commitment for a bunch of albums.” (Hot 97)

Check out 50 Cent speaking on G-Unit below:

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