According to inside label sources at ThisIs50.com, Busta Rhymes is the next artist to be dropped from Interscope Records. The announcement comes less than a week after Shady Records artist Obie Trice was released from his contract [click to read], and in the same year Joell Ortiz severed ties with Aftermath Records [click to read].

Per the reports, the veteran rapper and Flipmode Squad leader had a conflict with Interscope President Jimmy Iovine that ended with the two parting ways. Busta Rhymes had been working on his second Aftermath/Interscope album, Blessed. A number of songs from that album have already surfaced on the Internet, including "Don't Touch Me (Remix)" [click to listen] featuring an all-star list of emcees new and old.

Since signing with the label in 2005 after a tenure at J Records after starting his successful career with Elektra Records, Busta Rhymes released The Big Bang [click to read].

After appearing on Lil Wayne's Tha Carter III, Busta Rhymes also has confirmed appearances on Nas' Untitled album and The Game's L.A.X., making him the only artist to appear on what many are billing, the three biggest rap albums of 2008.

Interscope and Busta Rhymes have yet to confirm these reports. HipHopDX will keep you posted.