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SOURCE Duo Back In Business

Oct. 27 2008, Published 7:07 a.m. ET

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SOURCE OF EVIL: Benzino You can't keep a thuggish, bankruptcy-prone, Harvard-educated hip-hop mogul down. Six months after being forced out of The Source, Dave Mays is set to return to magazine publishing with a new title that's being described as an urban version of In Touch. Joining him in the effort are failed 38-year-old MC Ray "Benzino" Scott, his partner at The Source; surgically-enhanced radio yapper Wendy Williams; and Mimi Valdes, the former Vibe editor in chief who was canned, along with most of her staff, after BlackBook owner Ari Horowitz bought that title in July.

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Valdes will edit the mag, which is tentatively called The Truth. The plan is to launch later this fall, according to a source familiar with Mays's plans. While none of the parties involved returned messages seeking comment, another individual close to Mays says it's a done deal. "I can tell you that it's not a hundred percent, it's a zillion percent true," says the friend. "It's confirmed."

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