Diddy Confirms ‘Special’ New Deal with Interscope Records

Media mogul Diddy has confirmed that he will is officially making a move to Interscope Records, and he's taking Bad Boy, with him.

After spending the last 5 years on Warner imprint Atlantic Records, Diddy has just revealed the details of his move to Jimmy Iovine's powerful label, and announced that he will be signing "unique artists" to join him.

"I had started some previous business relationships with Jimmy Iovine," Diddy explained in an interview. "We had a great chemistry with each other. When I sat down with Julie [Greenwald, Atlantic COO] and told them that I had an interest to go sign with Jimmy and they didn't make it rough for me. Lyor [Cohen, WMG Chairman] and Julie were nice enough to let me get my [Bad Boy] name. I was able to take the name over to Interscope and to still in stay in business with them."

Meanwhile, Interscope honcho Iovine explained his reasoning in bringing Diddy over to join Eminem, Dr. Dre, 50 Cent and the rest of the hugely succesful artists on his label. "Puff is a rare person in the music industry today, that can move the culture in many areas - fashion, TV, music - as well as making records," Iovine said. "Whenever a free agent like him comes along, which is rare, you grab him."

Diddy will be releasing his forthcoming "electro-hip-hop-soul funk" album 'Last Train to Paris' through Interscope in the first quarter of 2010. .

As for Cassie, Day26, Janelle Monae and the rest of the Bad Boy artists who will not be making the jump with him, Diddy said, "I am not abandoning any of my artists over there, I still have that imprint. But all my future recordings, including my recording contract, that will be at Interscope Records...We are going to take our time with the amount of acts that we sign...We want to find those very unique artists. We want to build something very special that's not already out there."