Sean "P. Diddy" Combs founder and CEO of Bad Boy Entertainment, have entered into a worldwide distribution deal with Universal Records. As part of the newly-inked distribution deal, Universal will provide marketing and promotional support for Bad Boy's roster and distribute both the Bad Boy Catalogue and all new releases from the label. Moreover, Sean "P. Diddy" Combs will retain 100% ownership of Bad Boy Records, a company that has sold more than 75 million records worldwide, including 10 million alone by P Diddy. Bad Boy Records' superstar roster includes multi-platinum artists P. Diddy, Notorious BIG, Dream, Faith Evans, Carl Thomas, the newly reunited New Edition, 8Ball &MJG, Loon, Mario Winans, and the winners of MTV's number # 1 rated show "Making the Band 2."
"We are excited and honored to welcome P. Diddy and Bad Boy to the Universal family," stated Mel Lewinter, chairman of Universal/Motown Records Group. "As a songwriter, producer and artist, P. Diddy is one of the world's most gifted and accomplished creative talents, who has cultivated a remarkable business over the last decade. We look forward to playing an important role in what is sure to be his next career milestone."
"I am thrilled be working with Doug Morris [chairman &CEO, Universal Music Group], Mel and the entire Universal family," commented Combs. "It was important for me to have the opportunity to grow Bad Boy, and I can do that with the music industry's number one music powerhouse. This is a perfect situation for me and Bad Boy, and I can't wait to get out there and start making music history."