BAD BOY BIDS ARISTA ADIEU
Combs and Arista President/CEO Antonio "L.A." Reid made the announcement jointly, and emphasize that the parting is entirely amicable. Under the terms of their separation deal, which is effective immediately, Combs acquires Arista’s 50% of their Bad Boy Records joint venture and walks with its complete roster and catalog.
While Combs shops for a new deal, Arista will continue to provide sales, promotion and marketing support for current Bad Boy projects. BMG will also continue to distribute the Bad Boy catalog pending a new deal. In turn, Combs will continue to be available to Arista for producing, writing and remixing duties.
"The history of Bad Boy and Arista over the past 10 years resulted in a revolutionary shift in the music business," commented Reid. "P. Diddy and his Bad Boy Records remain at the forefront of the rap and hip-hop movement, whose culture and climate continue to influence today's musical scene. I value my relationship with Sean and I wish him well in his future endeavors."
Said Combs, "I have enjoyed my successful partnership with Arista and, most recently,
working with L. A. Reid. I decided it was time to move my company to a new home and I wish L.A. the best and look forward to working with him in the future."
Combs founded Bad Boy Entertainment in 1991, and began working with Clive Davis and Arista in 1993. In 1996, the two companies formed Bad Boy Records as a 50/50 joint venture.
