Diddy Confirms Interscope Records Power Move

Official reports of the move landed online late Tuesday (September 29) night.

Hip-Hop artist and fashion mogul Sean 'Diddy' Combs has signed with Universal Music Group's Interscope Geffen A&M label in a deal which includes his future albums and creates a new joint venture with Combs' Bad Boy label. No financial terms were disclosed and the length of the deal was not disclosed. (Reuters)

According to Puff, his new home with Interscope labelhead Jimmy Iovine will allow him to release his upcoming Last Train To Paris through the company.

"I had started some previous business relationships with Jimmy Iovine," Diddy said in an interview. "We had a great chemistry with each other. When I sat down with Julie [Greenwald, Atlantic COO] and told them that I had an interest to go sign with Jimmy and they didn't make it rough for me. Lyor [Cohen, WMG Chairman] and Julie were nice enough to let me get my [Bad Boy] name. I was able to take the name over to Interscope and to still in stay in business with them. I am not abandoning any of my artists over there, I still have that imprint. But all my future recordings, including my recording contract, that will be at Interscope Records...We are going to take our time with the amount of acts that we sign...We want to find those very unique artists. We want to build something very special that's not already out there." (All Hip Hop)

"Puff is a rare person in the music industry today, that can move the culture in many areas - fashion, TV, music - as well as making records," he said in a statement. "Whenever a free agent like him comes along, which is rare, you grab him." (PR Newswire)

Diddy previously announced his departure from Atlantic Records last week.

"Now that the term of the Warner deal has ended, I have elected to accept an opportunity to move my recording career and future label venture to another company," Diddy said in a statement. The joint venture for Bad Boy's current roster and catalog with WMG will remain in place. (Billboard)

Check out Diddy, The Game & Jimmy Iovine confirming the move below: