P. Diddy has earned over 30 million American dollars through Bad Boy since its beginnings in 1994.
According to the BBC, the singer will maintain control of the company, but his catalog of products and talent will become half the property of Warner Music. Notable artists currently signed with the label are Mario Winans, Boys N Da Hood, Mariah Carey, Mary J. Blige and Jennifer Lopez.
The company will keep its New York base, located in Manhatten.