G-Unit member Lloyd Banks has a new contract. After months of speculation about where his upcoming LP, The Hunger For More 2,  would be released, 50 Cent has secured a new distribution deal for the Punch Line King. Banks will announce his new home Friday at 1 p.m. ET on “RapFix Live” on MTV.

Of course, Banks is still signed to G-Unit, but since the release of his 2006 LP, Rotten Apple, fulfilled his contractual obligation to Interscope, the Southside, Queens, native has been operating as an independent artist.

Banks has kept up his profile and his musical releases, dropping the G-Unit album T.O.S. (Terminate On Sight), in 2008, and a myriad of mixtapes, including 2009’s V.5. Banks had a radio and club hit with the Juelz Santana-assisted “Beamer, Benz or Bentley” this spring and he recently completed production on a new single featuring singer Lloyd, titled “Any Girl.” Meanwhile, Banks has been steadily working on the sequel to his 2004 multiplatinum fan favorite, The Hunger For More.

“It takes people back,” he said about putting out sequel LPs. “Especially with Twitter and stuff like that, you talk directly to your fans and they’ll tell you what they want to hear. They want that old thing back. Not as far as the music, but the drive. Fans want to see you excited about hip-hop.”

Banks said that during a talk with 50 Cent, the Unit’s general told him that HFM2 has to be a timeless project.

“He said, ‘You know what you gotta do. You got to make a part two to that record and make another classic,’ ” Banks recalled.

The G-Unit’s new distribution deal will just be for Banks and Tony Yayo. 50 still has one more record he owes under the terms of his Shady/Aftermath contract at Interscope.