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50 Cent and G-Unit Sign With Capitol?

50 Cent is currently attempting a comeback with his group G-Unit and prepping the release of his next album ‘Black Magic’, but unlike previous projects, they may not be released through Interscope Records. Craig Davis, VP of Urban Promotions for Capitol Records, recently spoke with Pyramid Midwest about the label’s current roster, sharing that he signed 50 and his G-Unit soldiers Lloyd Banks and Tony Yayo to the label, where their next projects will be released.

‘We just signed 50 Cent’s deal over there’, said Davis. ’50 thought he needed to get out of the Interscope machine. He wanted to do a new change, so he got his release from there. We’re in negotiations with him. The deal got signed very recently, and we got 50 Cent on our label. I think Lloyd Banks is the first cut and then 50’s going to come out later on.’

However, hours after the ‘net began buzzing over this reported signing, reps for 50 claimed that 50 was not headed to Capitol. Rumor has it Banks and Yayo — who were recently dropped from Interscope — have been picked up by Capitol, but 50 will remain with Jimmy Iovine and Interscope.

50’s last album, ‘Before I Self Destruct,’ was released via Aftermath/Interscope/Shady Records in November 2009, debuting at number five on the Billboard chart and selling 160,000 copies in its first week. It went on to become 50’s lowest selling album to date, receiving gold certification – his first album that didn’t go platinum since his major label debut ‘Get Rich or Die Tryin” in 2003. G-Unit’s 2008 sophomore album ‘T.O.S.: Terminate on Sight’, failed to live up to its double platinum predecessor ‘Beg For Mercy,’ selling fewer than 300,000 copies since release.

50 is currently working on his new album ‘Black Magic,’ which is being described as a more dance-friendly LP inspired by music he heard overseas during his European travels. The album, previously rumored to be released via Def Jam, is slated for release later this year.

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