In a recent interview with Fuse, Madison Square Garden's national music television network, entertainment mogul Sean "Diddy" Combs sits down for an exclusive interview dubbed 'Diddy: On The Record with Fuse,' premiering tonight (July 20) at 8 p.m. In the special, Diddy opens up to Fuse host Toure to talk about his last moments with friend and late rap star The Notorious B.I.G. and drops details on his upcoming album 'Last Train to Paris.'

The music mogul also sheds some light on the record industry and the obvious decline in album sales in recent years. With a seemingly clear understanding of the current record sales climate, Diddy explains how to stay ahead of the game during his sit down with Toure. "You have to adjust to the environment," says Diddy. "It's cold outside, and everybody's standing outside in bathing suits. I'm not going to stand outside in my bathing suit. I'm going to adapt to the situation. If I'm not getting my money from records, then we're going to get our money from shows, appearances, endorsements, building other brands, television shows..." Indeed!

While Combs' prodigious business sense gives him the ability to work around the decline in record sales, he admits that musicians haven't quite found a way to fairly combat illegal downloading. "I just think that the record industry works against each other and is so competitive," he continues,"We haven't figured out how to take a stand with each other to monetize what we do. Because we're so competitive, we've all gone to Steve Jobs and cut a lower deal... To the point where a lot of greed has played into us not being able to, as record companies, monetize the situation. But at the same time, one of the beauties of it is, it's given freedom to a lot of independent artists."

Tune in to Fuse tonight to catch the full interview with Toure at 8 p.m.