Warner buys stake in Bad Boy Records
Friday, Apr 15th 2005 at 6:56PMWarner Music Group has bought a 50% stake in Sean Combs's Bad Boy Records in a deal believed to be worth $30m.
Combs, otherwise known as P Diddy, is to remain as CEO of the label whose catalogue includes Notorious BIG, Mario Winans, Mase, B5 and albums by Cobs himself. The label is to remain in its New York offices.
Neither side is revealing financial details of the deal.
The news comes following a year of cost cutting by chief ...
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