Jeremy Miller Named as CEO and President of The Source

The Board of Directors of Source Enterprises, Inc., the parent company for The Source magazine, announces industry veteran Jeremy Miller as the new president and chief executive officer of the magazine.

The appointment was made January 19 by The Source Enterprises Inc., board of directors after they terminated Miller's predecessor David Mays and The Source president Ray "Benzino" Scott.

The New York Post reported four of the six board members voted out the duo two weeks ago, but was postponed when Mays and Scott filed for a temporary restraining order while they prepared a lawsuit against the new board.

However last week a judge lifted the restraining order and the majority vote by the board of directors was reinstated.

The board of directors is controlled by the Graves family, publishers of Black Enterprise Magazine. The Graves gained control of the magazine when Black Enterprise Greenwich Street Corporate Growth Partners, a private-equity firm controlled by the Graves family, made a $12 million investment in the magazine.

Miller who currently publishes Down magazine, a magazine he created, a year ago, when he left The Source was instrumental in The Source's success as he worked for the magazine for nearly 15 years by building the magazine's circulation and serving as Chief Operating Officer where he was responsible for the day-to-day operations of the magazine and its publishing division.

"Having worked at The Source for the past 15 years, I am pleased to assume the position of CEO and restore the magazine to its rightful position as the preeminent hip-hop magazine," says Miller. "I am confident with new leadership, along with valued members of the current editorial department and staff that we will wholeheartedly bring our collective expertise, journalistic talent and passion for hip-hop to the table to execute and distribute an exceptional hip-hop 'bible' for the readers."

Mays and Scott are said to be fully cooperating with the board's transition.