It seemed as if the P. Diddy/Warner Music Group relationship had dissolved before it truly ever began. But $30 million later and now Sean Combs and Edgar Bronfman Jr. of Warner Music Group have worked out the kinks.
P. Diddy has agreed to sell half of his Bad Boy Entertainment label t Warner Music Group, for at least $30 million, the Daily News has learned. A last minute decision came after Combs initially scoffed at the offer from Warner and claimed he wanted to retain full ownership of his company.
No papers have yet been signed, so music insiders cautioned the deal could still fall apart. The deal is being spearheaded by Warner Music U.S. chief Lyor Cohen.
If this deal goes as planned, it would mark the end of Combs’ rocky two-year relationship with music giant Universal Music Group. Universal does not own a stake in Bad Boy, but distributes the label’s records.
