off of msn.com
http://entertainment1.sympatico.msn...=0&showbyline=False&subtitle=&detect=&abc=abc
P. Diddy, quite possibly the most lucrative tycoon in the history of the hip-hop industry, has decided to sell 50 per cent of Bad Boy Records to Warner Music Group. The deal, inked Thursday, is reportedly worth $30 million and gives Warner joint control over Bad Boy
P. Diddy, quite possibly the most lucrative tycoon in the history of the hip-hop industry, has decided to sell 50 per cent of Bad Boy Records to Warner Music Group.
The deal, inked Thursday, is reportedly worth $30 million and gives Warner joint control over the Bad Boy catalogue, including three hit albums from the late Notrious B.I.G. and P. Diddy solo albums, among others.
Diddy ? whose real name is Sean Combs ? announced that he would continue as CEO of Bad Boy, however, neither side has issued any further comments on the deal.
The hip-hop mogul bought back full control of the Bad Boy enterprise three years ago from Arista Records. In 2003, the label's estimated value was roughly $100 million, but the company has been slouching a bit in the revenue department lately. The much anticipated return album by former platinum-selling rapper Mase was a commercial disappointment and New Edition's comeback album only sold 244,000 copies.
Diddy is hopeful that with Warner Bros. cash and marketing prowess behind the project, the Bad Boy label can be pulled out of its slump.
The first album set for release after the deal will be from Atlanta?s Boyz N Da Hood, followed by the debut disc from B5.
Diddy told the Associated Press that the deal ensures that Bad Boy has "the right financial backing," "the right financial structure" and "the right partner to remain a force in the music industry."
Bad Boy is home to artists such as B5, Mase, Carl Thomas and Mario Winans.
Wouldve posted this in the p diddy forum, where is it?
http://entertainment1.sympatico.msn...=0&showbyline=False&subtitle=&detect=&abc=abc
P. Diddy, quite possibly the most lucrative tycoon in the history of the hip-hop industry, has decided to sell 50 per cent of Bad Boy Records to Warner Music Group. The deal, inked Thursday, is reportedly worth $30 million and gives Warner joint control over Bad Boy
P. Diddy, quite possibly the most lucrative tycoon in the history of the hip-hop industry, has decided to sell 50 per cent of Bad Boy Records to Warner Music Group.
The deal, inked Thursday, is reportedly worth $30 million and gives Warner joint control over the Bad Boy catalogue, including three hit albums from the late Notrious B.I.G. and P. Diddy solo albums, among others.
Diddy ? whose real name is Sean Combs ? announced that he would continue as CEO of Bad Boy, however, neither side has issued any further comments on the deal.
The hip-hop mogul bought back full control of the Bad Boy enterprise three years ago from Arista Records. In 2003, the label's estimated value was roughly $100 million, but the company has been slouching a bit in the revenue department lately. The much anticipated return album by former platinum-selling rapper Mase was a commercial disappointment and New Edition's comeback album only sold 244,000 copies.
Diddy is hopeful that with Warner Bros. cash and marketing prowess behind the project, the Bad Boy label can be pulled out of its slump.
The first album set for release after the deal will be from Atlanta?s Boyz N Da Hood, followed by the debut disc from B5.
Diddy told the Associated Press that the deal ensures that Bad Boy has "the right financial backing," "the right financial structure" and "the right partner to remain a force in the music industry."
Bad Boy is home to artists such as B5, Mase, Carl Thomas and Mario Winans.
Wouldve posted this in the p diddy forum, where is it?
.