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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.
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