Sean "Diddy" Combs [ tickets ] has inked a new deal with Interscope Geffen A&M for all of his future music ventures, including a new imprint for his Bad Boy Records label, according to a press release. The first release from the new new Bad Boy/Interscope joint venture will be Diddy's upcoming album, "Last Train To Paris," his sixth studio release

In a statement, Interscope Chair Jimmy Iovine said, "Puff is a rare person in the music industry today, that can move the culture in many areas--fashion, TV music--as well as making records. Whenever a free agent like him comes along, which is rare, you grab him."

Combs' new venture follows a five-year deal with Warner Music Group imprint Atlantic Records. The current Bad Boy roster and catalog will remain under the WMG/Bad Boy banner.