After a five-year run, Sean "Diddy" Combs confirmed with Billboard that he is exiting his exclusive deal with Warner Music Group/Atlantic Records at the end of this month. A new, as-yet-not-officially-announced deal is in place, according to his spokeswoman.
The joint venture for Bad Boy's current roster and catalog with WMG will remain in place.
"Now that the term of the Warner deal has ended, I have elected to accept an opportunity to move my recording career and future label venture to another company," Diddy said in a statement.
Diddy's spokeswoman wouldn't confirm which label he will be partnering with, though reports have said a deal is in place for his next album "Last Train To Paris" to be released by Interscope Records.
The one album Diddy released through the WMG agreement, 2006's "Press Play," has sold 703,000 units to date, according to Nielsen SoundScan.