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From CMJ:

Artist promotion website in affiliation with digital distributor SnoCap has announced a 10-part hip-hop talent search to take place in cities across the country from August 2007 to March 2008. The series, titled New Blood will draw hopeful independent and underground rappers together with label execs from Bad Boy Entertainment, Rawkus Records, UnAuthorized/Asylum and Imperial for an evening of passionate performances and persuasive pitches.