May 26, 2015

50 Cent’s SMS Promotions Files For Bankruptcy 

  

In court docs filed in Connecticut, SMS says it has between $100k and $500k in debts. 
SMS just put on a fight in Connecticut on May 15th — though it clearly wasn’t enough to turn the company around. 
An attorney for SMS Promotions says 50 — aka Curtis Jackson — made the decision to file so the business could reorganize and emerge as a stronger company. 
“Under the direction of Mr. Jackson, SMS Promotions looks forward to reorganizing as a new corporate entity and becoming one of the leading promotion companies in the world of professional boxing.”

TMZ

50 Cent Talks ‘Empire’ and ‘Power’

  

“Yeah, and it’s become something completely different. It’s almost like they cast people who were musically talented, who they could turn into stars in the process—and also create another revenue space for the television show, to profit on the sales of the actual records that they sell. They’re doing a push like that. Like at the Billboard Awards they had that guy [Jussie Smollett] perform. That’s what I identify with, him actually being a vocalist, because he was good. Then you go: OK, that casting was, “Can you sing? OK. Now, can you act?”” (Salon)