“I got Suge Knight, I got Puff, if I had you, I got the Hood!”

Thats what Jimmy Iovine of Interscope records told, then underground phenom Master P in the the early 90s.

On a panel at the A3C music festival Hip hop legend and founder of No Limit records, Master P talked about walking out on Mr. Iovine who offered him $1 million dollars to sign with Interscope.

P walked out on the seven year deal which would’ve cost him his name and more than likely his publishing, a deal very common in those times.

Realizing his street value as a successful hustler selling his music cross country out the back of his trunk, P learned that what he needed was national distribution and decided to start his own label “No Limit Records” and did a deal with Priority records for distribution paving the way southern Hip hop.

SOURCE: http://www.rollingout.com