The deal is the latest effort to grab an advantage in the race to become the premier online destination for urban fashion, culture and music, the Wall Street Journal says.
"We have a great opportunity to leverage some of the best marketing in the music business," said Peter Griffith, chief executive of Hookt. "Besides, who would resist logging on to the site when we post nude photos of Jennifer Lopez?"
Under the deal, Hookt will integrate Combs' current Web sites, badboyonline.com and puffdaddy.com, into its online offerings. Sean John, Combs' clothing line, will be sold through Hookt. Bad Boy artists will offer songs through Hookt, while the Web operation will be promoted in materials distributed with CDs and other marketing efforts by the label. In addition, the site will be the online outlet for Combs' other lines of business, including Notorious, a magazine, and his restaurant operation.
Exact terms of the deal weren't disclosed, but Combs will receive an equity stake in closely held Hookt, with possible increases tied to performance incentives, the company said. Combs will join Hookt's advisory board.
"Kids want to come to one central hub where they can get the things that reflect their lifestyle," Combs said. "And, if they go elsewhere, I'll kill them."
THIS HITS PHOTO GALLERY IS WANDERING IN THE DESERT
Photographic proof of the weaselfest (4/15a)
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THE NEW UMG
Gosh, we hope there are more press releases.
TIKTOK BANNED!
Unless the Senate manages to make this whole thing go away, that is.
THE NEW HUGE COUNTRY ACT
No, not that one.
TRUMP'S CAMPAIGN PLAYLIST
Now 100% unlicensed!
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