“I was at a point where I felt like I needed a fresh start like A-Rod going to the Yankees.”

Combs is still celebrating his latest record company powermove so he rang up AHH and told them how he escaped Lyor Cohen’s clutches.

“I had started some previous business relationships with Jimmy Iovine. We had a great chemistry with each other. When I sat down with Julie [Greenwald, Atlantic COO] and told them that I had an interest to go sign with Jimmy and they didn’t make it rough for me. Lyor [Cohen, WMG Chairman] and Julie were nice enough to let me get my [Bad Boy] name. I was able to take the name over to Interscope and to still in stay in business with them. I am not abandoning any of my artists over there, I still have that imprint. But all my future recordings, including my recording contract, that will be at Interscope Records.”

According to Combs, the new Bad Boy label with Interscope will operate like a small boutique label, with an emphasis on signing unique talent.

“We are going to take our time with the amount of acts that we sign,” Combs stated, adding that the label will cater to “superstars.” We want to find those very unique artists. We want to build something very special that’s not already out there.”

So Cassie’s stuck at WMG and Puff’s lookin’ for fresh faces. No, that doesn’t mean you Ma$e.

Previously: Diddy & Jimmy Sittin’ In A Tree