Little-known hip-hop fact #1:

For a brief time, Lyor Cohen owned half of The Source magazine.

After the founding editors of The Source walked out in a dispute with publisher Dave Mays, a friend stepped in to negotiate on their behalf. But what Lyor Cohen ended up doing was not the act of a friend…

For the complete story, see The Big Payback, pages 472-473

The Big Payback: The History of the Business of Hip-Hop by Dan Charnas—coming out December 2010 on New American Library/Penguin—is the first-ever definitive history of the executives, entrepreneurs, hustlers and handlers to transform hip-hop from an obscure street phenomenon into the world’s predominant pop culture and a multi-billion dollar industry. Order your copy here.