Rap mogul Diddy may always be the “King of New York” but he reportedly has his sights set on purchasing a fancy Beverly Hills mansion in the near future.

According to reports, Puffy is house-searching but won’t sign on any dotted lines until he knows about the noise regulations.

Bev Hills real estate sources tell us, Diddy is eying a $12 million 11,200 sq. ft. home in the city’s gated Beverly Ridge area. But we’re told he won’t make an offer if he and his friends can’t cut loose. So, Diddy, if you buy the house anyone you invite in must first be cleared by gate security. If you’re throwing a big party you need a valet service and security. (TMZ)

Outside of finding a new home, recent reports revealed Puff put up a large bid to acquire Fuse TV.

Sean Combs wants to light a fuse under his new cable network Revolt. The hip-hop mogul is said to have made a bid to buy Fuse, a music channel owned by Madison Square Garden Co. The bid comes after Combs launched his own music cable network Revolt TV last year. If Combs is successful in his efforts to acquire Fuse, he would most likely replace it with Revolt. (Los Angeles Times)

Geared toward all-music everything, Diddy recently said he wanted to take a gradual pace at growing his Revolt brand.

“In the first 24 months we want you to turn on the channel from whatever device or site — Instagram, Twitter, Tumblr — and get the best music the world has to offer and real-time news and interviews. … The first couple of miles with Revolt we want to run at a nice pace. The programming will be music, music, music.” (Ad Age)

Puff also said he believed Revolt TV could blow up to the point of being a renowned network like ESPN or even Fox News.

“We aspire to be the ESPN, CNN of music, Fox News if you are a Republican — we want to be taken seriously. We want people to have fun, but want them to take us seriously. … We want to be the ESPN of music.” (Ad Age)