As Dave Mays promised, lots of legal action is ahead as he tries not to lose The Source.  Actually, AllHipHop.com’s Nolan Strong is reporting that:
The Source Magazine has announced the filing of a multimillion dollar lawsuit against the Black Enterprise Greenwich Street private equity fund, claiming members plotted to steal the magazine and illegally fired Source founder Dave Mays as CEO.

That statement confuses me and I wish I had more info than this article.  Like, when he says that The Source Magazine has filed suit, I assume that’s a legal tactic where Mays and lawyers are saying that he stills represents The Source?  And I really would like to know more about Mays and Benzino’s claim that they are still 82% shareholders.  In any case, Mays is out and he wants back in.

However, with both Mays and Benzino out of the picture, folks are ready to do business again.  In a press release issued yesterday, Image Entertainment, Inc. announced that it had resolved legal difficulties with Source Entertainment, Inc. and that "Image now possesses the exclusive rights to all Source video and audio projects" beginning with the next release in the Hip Hop Hits series.

That sounds like a big thing but I think the press release love fest indicates a lot about the prior tenants:
"We were extremely excited to meet The Source’s new management team," said George Steele, vice president of Image Music Group, a wholly owned subsidiary of Image Entertainment, Inc. "They have been very professional and really understand the business and the need to forge ahead together."

And the love is returned:
I know I speak for everyone at The Source when I say we are thrilled to resume our strong relationship with Image Entertainment," said Jeremy Miller, President and CEO of The Source. "We have a history of success together, and our content and brand combined with their deep distribution channels and unsurpassed knowledge of retail is truly a winning combination."

Whether someone in public relations wrote those quotes or whether they’re real, I think it’s the first step of what could be a truly bright future for The Source, though they need to update their self description as the "#1 selling music magazine on newsstands in America" which may have once been true but certainly isn’t now.