Rap News Rundown: Chief Keef, Young Money, 50 Cent, 2 Chainz

Chief Keef's cousin, rapper Big Glo, was fatally shot in Chicago on April 9. The 30-year-old entertainer, who also used the moniker Blood Money, had reportedly just inked a deal with a major record label that included a $50,000 advance.

"He was basically trying to just get his rap career together because that's a good opportunity. They gave him some money up front. It was a good chance for him to get himself out the hood," said Big Glo's manager Renaldo Hess to the Chicago Tribune.

Like his cousin, Big Glo had a lengthy rap sheet, including arrests for cocaine distribution. He leaves behind five children. Keef announced plans to release some of his music.

Young Money Dispels Rumors About Signing a Gay Rapper

Young Fly Red is making waves right now with his new single "Throw That Boy P----." Many are wondering how long it'll take before a major label snaps him up. Whispers on the Internet last week suggested that Young Money signed a contract with the openly gay rapper. A website, 24HourHipHop.com, claimed to have received a statement from Weezy confirming the signing. But Mack Maine subsequently dispelled the rumor. "I don't know if this is a publicity stunt, but we (YMCMB) haven't signed any new artist recently…. Love," Mack wrote on Twitter.

Big Sean Ends Engagement to Naya Rivera

Big Sean has called off his engagement to Naya Rivera. Rumors surrounding the rapper's relationship with the actress suggest that cheating allegations may have played a role in the decision.

"Sean wishes Naya nothing but the best, and it is still his hope that they can continue to work through their issues privately," his rep told Us Magazine.

TMZ reports the two were in counseling when his concerns over her controlling nature and jealousy became too much for him. As for the Rolex she accused him of stealing on Twitter, sources told the gossip site it was always his Rolex and he had given it to her to wear during their relationship.

50 Cent Loses Lawsuit, Ordered to Hand Over $16 Million

50 Cent ended up on the losing end of his legal battle with former partners Sleek Audio.

The rap mogul was ordered by the courts to fork over a little more than $16 million to the company for breaching his contract with them. The two joined forces with the intent of releasing a headphone line, but the deal fell through, and Fif released headphones through another manufacturer. He was found guilty of stealing the design and concept from Sleek and must pay $11.7 million in damages and cover their legal fees, which come to about $4.5 million.

2 Chainz Charged with Felony Drug Possession, Pleads Not Guilty

2 Chainz was charged with felony drug possession by California prosecutors. He has since gone before a judge and pleaded not guilty to the charges, which stem from his arrest at LAX when codeine was found in one of his checked bags as he boarded a flight. If convicted, he could face up to three years in prison.

The LAX incident wasn't the Atlanta rapper's first run-in with the law since his reemergence on the rap scene. In February 2013, he was cited for marijuana possession in Maryland, and in August 2013, he was arrested in Oklahoma City for obstructing a police officer after he and his entourage barricaded themselves inside his tour bus after being pulled over.

This article originally appeared on STACK.com: Rap News Rundown: Chief Keef, Young Money, 50 Cent, 2 Chainz