News: Diddy Confirms Atlantic Records Departure, "I Have Elected To Move My Recording Career"
Saturday, Sep 26, 2009 8:10AM
Bad Boy Records CEO Diddy has confirmed recent reports of him parting ways with Warner Music Group imprint Atlantic Records by the end of September and releasing his upcoming album Last Train To Paris under a new label.
The departure comes after nearly a five-year run at the renowned record label.
"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)
Puff will reportedly be narrowing down a deal to join labelhead Jimmy Iovine at Interscope Records.
Word has it that the Bad Boy's head honcho is fleeing the Warner Music Group to set up shop in the house that Jimmy Iovine built. The music mogul currently is hard at work on his Last Train To Paris album. It's uncertain which label would release the album, if Diddy indeed signs with Interscope. Sean "P. Diddy" Combs and Warner Music Group signed a joint venture deal back in 2005, giving the record company a 50% stake in Bad Boy Records. Under the three-year agreement--for which Warner reportedly paid $30 million--the recording giant undertook digital and physical distribution of worldwide Bad Boy releases. (Vibe)
While originally slated to drop this month, Diddy has postponed his Last Train To Paris album until 2010.
"We just vibin' and making music, having a good time," he said in an interview. "The album is gonna be something different for me, and I don't have to support it by myself...The train is coming...It's coming, it's coming. Right now, it's like Jay-Z time and Drake time. Enjoy those guys. But the train is coming. Get your ticket. You don't want to be left out." (MTV)
Interscope has recently seen the departure of artists like Tony Yayo, Lloyd Banks and Charles Hamilton.
Remember Charles Hamilton? No? Well, before going into recluse this summer, Dukie was signed to the house that Shady built. But according to our political connects, he received a pink slip a few days ago. Looks like it's game over. (Rap Radar)
No further details have been revealed as of now.
Check out Diddy's "Starmaker" video below: