As always the hip-hop rumor mill has it wrong again.

All the net is bursting with headlines that hip-hop entrepreneur Russell Simmons is interested in looking into buying the Source.

The Source Magazine, the self proclaimed bible of hip-hop, has seen a lot of financial difficulty lately, leaving the door open for the hip-hop net rumor mill to start to work.

Articles saying: ''word on the street, or sources close to - is that Russell Simmons is also interested'' are just that – word on the street and I am not sure who they are close to but Russell Simmons has issued a statement in response to recent news coverage and rumors concerning the Source. Here is the official word from the Russell Simmons camp:

“Russell Simmons has expressed zero interest in a business affiliation of any kind with the Source Magazine, nor has he had any conversations of any kind on the subject. Russell considers the Source an important voice and wishes it every success in the future.”

So at least Russell Simmons is out of all the rumors about the Source sale. It’s officially now “zero interest“.