Note To Readers: We were sent this story from Jeff Bercovici's email account (nstead of from the flak who usually floods our inbox) and e assumed he wrote the story. However, though Jeff did work on this piece, it was ultimatey a callaborative effort, accomplished with the help of many a Radar staffer. So don't any gangster magazine people go and shoot Jeff, K? Just open fire on the whole staff.

Dude, Jeff Bercovici some Radar staffer (apparenty other people besides Jeff work there?) is talking to some embedded folks in this biz. We don't know who his the hook-up is, but, well, it's good. And it talks. He's Whoever it is has inside sources at the Source and Vibe, and is delivering mad mag news this week — guess that's what happens when you're forced to sit on your scoop for over a month.

Anyways, there was always some assumption that David Mays (Berco secret staffer knows him so well, though, it's Dave now), founder of the once-much-buzzed-about Source magazine, would eventually launch a new pub — and now it's looking pretty offish. Mays is pairing up with former Source staffer Benzino Scott and entourage members Wendy Wiliams and Mimi Vades (former Vibe EIC) to form a new mag, tentatively called The Truth.

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 …

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."

A zillion percent true? We just can't argue with that. Plus, we really do feel the need for a Black tabloid. Beyonce, 50 Cent, Oprah, and Mekhi Phifer are definitely not getting enough face time.

SOURCE Duo Back In Business [Jeff Bercovici, Radar]

Tomorrow The Source will finally be pulled out from under founder and former stockholder David Mays and handed over to somebody who actually believes there is a chance of reviving the thugged out music mag.

Tumultuous times at the pub recently led to the axing of Mays and his b-boy Benzino (Ray Scott) when the new board took the reigns. But as the Post points out, Mays hasn't stopped proving his street cred by brawling with hip-hops best.

But the pair are still living large in Miami. They have continued to claim that new owners seized control of the company illegally, and last week they even managed to get the auction postponed by a week.

In Miami, Mays was involved in an altercation with Busta Rhymes, and after insulting the rapper, was allegedly bashed in the head with a champagne bottle. All in a day's work in the wacky world of hip-hop.

New directors still have no clue who is going to take over as owner of Source, but Jay-Z is mentioned as a possible candidate. (Remember, this comes from the column of Keith Kelly who was mentioned as a possible candidate for Time managing editor.)

The rest is a lot of financial business stuff that sounds like the mumbo jumbo of Cindy Adams column, but the gist of it that Mays and Benzino sucked up all the mag's money as it was plummeting, had drug charges brought against them, got in gun fights, harassed women, and inevitably ended up under the glare of the feds.

Which is basically the same old news: The Source is fucked. Only this time it's official … or, it will be tomorrow.

THE SOURCE, GOING ONCE… [Keith J. Kelly, New York Post]