Lil Kim announced late last week her intentions to part ways with her current label, Atlantic Records. Before going public with this news, rumors had begun circulating that the Brooklyn-bred rapper had been dropped by Atlantic.

Sources say that Lil Kim will be joining the Interscope Records roster which includes 50 Cent (who she has an ongoing feud with), Pharrell Williams, Eve, Black Eyed Peas and Eminem, among others. Kim is also planning a tour for the end of this year, and will release her fifth album on Interscope in the summer of 2007.
Lil Kim released her last album, The Naked Truth, on Atlantic Records while in jail in November 2005. The album, though critically acclaimed, failed to produce the chart topping hits or sales of her previous platinum works due to her incarceration.

Kim has kept quiet since her release from jail, but recently released a new mixtape track "Brooklyn For Life" [download] with Maino and Papoose.

Kim is also getting ready to launch the second season of her BET reality show, "Countdown to Lockdown". The first season, which debuted earlier this year, captured footage of the Grammy Award winning rapper , before she turned herself into the Philadelphia Federal Detention Center to serve her 366-day sentence.