"Source" founders Dave Mays and Ray "Benzino" Scott will launch Hip Hop Weekly
, a celebrity news and lifestyle magazine. The new pub, edited by former Vibe
Editor Mimi Valdes, will hit
newsstands Oct. 16 with a weekly distribution of 100,000 and a $2.99 cover price (increasing to $3.99 after a month). It will target male and female hip hop fans under 40 with film, TV, music,
fashion, sports and celebrity news.