Bad Boy/Warner 50-50 Joint Venture

15 Apr 2005

Sean "P. Diddy Combs" and Warner Music Group have inked a joint venture deal that gives Warner a 50% share in Puffy's Bad Boy Records label.

Under the new agreement, signed on Thursday, Warner will market and handle the digital and physical distribution of Bad Boy's new realeases worldwide.

The exact amount of the deal is unknown but sources say Warner paid $30 million (USD) for a deal that would last at least three years. The new deal with Warner also marks the early termination of a previous deal with Universal Music Group that was set to expire mid 2006.

Previous deals also include Arista Records which ended in 2002, the year after Diddy signed with UMG (Universal Music Group) for $10 million.