P. Diddy breaks with major label -- The hip-hop entrepreneur takes Bad Boy back from Arista Records

One of hip-hop’s most lucrative partnerships ended Thursday, as Sean ”P. Diddy” Combs’ Bad Boy Records parted ways with Arista Records, its home for 10 years, according to a joint statement from the labels. The Arista/Bad Boy partnership produced hits by the late Notorious B.I.G., Mase, Faith Evans, and of course, Combs himself, mostly in his former guise of Puff Daddy. In recent years, Bad Boy found success with hits from the likes of R&B singers 112 and pop group Dream, but had difficulty launching the careers of new rappers.

As the result of an undisclosed settlement with Arista, Combs now owns 100 percent of Bad Boy, including its back catalog; he plans to search for a distribution deal with another label. ”Everybody grows up and has to move out of the house,” Combs told the Associated Press. He said that he split with Arista because he wants Bad Boy to be its own major label, not a subsidiary of one. ”I want to put out more records,” he told AP. ”I want to have different divisions: country divisions, a soul division, dance, hip-hop. I’m about to be Arista’s competition.” As long as Diddy doesn’t try to dance in his new country music videos, it could work.