MTV has announced a first-look production agreement with Bad Boy Entertainment and its founder, Sean "P. Diddy" Combs, who will act as executive producer for upcoming TV projects.

MTV has announced a first-look production agreement with Bad Boy Entertainment and its founder, Sean "P. Diddy" Combs, who will act as executive producer for upcoming TV projects.

Combs, who stars and executive produces the MTV series "Making the Band 3," will be called on for everything from developing and consulting to possibly appearing on shows.

"It's a big step, my first TV executive producer deal," said Combs, who added it's different from his other business dealings because it's a significant commitment to his company in funding. "It gives me a chance to create content but it also doesn't limit me to do things outside."

MTV and Combs are no strangers. He's been working with the network since 1994 through music videos, events and campaigns including the "Vote or Die" registration drive during last year's presidential race.

"We've been there for each other throughout the years. We've been like a family," said Combs, who pointed out that such a business deal is "all about who you have a history with."

MTV noted the success and high ratings of the new season of "Band," which features Combs creating an all-girl group.

"P. Diddy is at the forefront of music, fashion, film, TV and entertainment in general, and he has been an integral part of MTV's success through the years," said Brian Graden, president of entertainment at MTV Networks Music Group.

This won't be the last news of Combs' burgeoning entertainment group. While the news solidifies his TV presence, Combs said to watch out for a wireless announcement soon. "Everything is creating a content empire," he said.

The news follows the previously announced motion picture development project between Combs and MTV Films for an untitled urban heist movie.