It’s official! Bad Boy Records has found a home after breaking away from Arista Records over a year ago. P. Diddy has moved his Bad Boy label to Universal Records for a three-year deal to market, distribute and promote the labels artists and promotional ideas.
With the new deal P.Diddy will retain complete (100%) ownership of the company and remain as head of the label. P.Diddy told MTV he is happy about the deal he worked out. “Universal is the label that paaayyys me,” Diddy sang. “They’re the number one Distribution Company in the world. I didn’t sell my company, I retained 100 percent of the masters, 100 percent of the equity. It was a great deal for Bad Boy. We’re about to reign on y’all asses. We got Loon coming soon. Dream, we got a Notorious B.I.G. duets album, Faith Evans is in the studio now and Diddy is gonna drop probably his last album.”
It is not yet known how much Universal paid for Bad Boy, but P.Diddy had previously said he wouldn’t sell the company for less than a $100 million.
