P. Diddy Dreaming Of Being A Major

Rap mogul hopes to take Bad Boy Records out from under Arista's wing.

For months we've been hearing rumors about P. Diddy taking his Bad Boy label and bolting from his distributor, Arista, to put out records elsewhere. Last week, on the set of his "I Need a Girl" remix video, P.D. let it be known that he has in fact decided to venture out.

"The talks are heating up," Diddy said about his negotiations with other companies. "Everything is real positive. We don't know yet."

While it still hasn't been announced whether Diddy will be severing ties with Arista altogether, his upcoming remix LP, P. Diddy and the Family Present: This Is the Remix, will be released in conjunction with the L.A. Reid-run major. P.D. said it's no beef, he just has to get out from underneath Arista's wing.

"It's almost like being a ball player," Diddy explained. "I could have chosen to stay there for the rest of my career, or if I wanted, to look at other things. I basically asked if I could get out of my [contract] early. Being that I had a friend inside, L.A. Reid, I explained to him what I was trying to do. I was trying to get bigger. I was trying to be one of Arista's competitors.

"I wanted to be one of the first black-owned majors," he continued. "I said, 'Help me with my dream and my vision. Y'all got the power to hold on to me for a year and a half, or let me get out there and show the diversity I could show.' "

Diddy's artists are already starting to be affected by his dealings. Earlier this week, a spokesperson for Faith Evans, the Diddy-proclaimed "First Lady of Bad Boy," confirmed that the Grammy-nominated singer will see her future recordings released solely on Arista.

"I believe it's a businessman doing good business for himself, simply put," Evans said on Thursday. "It's really not much more serious than that. It's not a bad thing at all. I welcome my new plateau in my career. I don't feel like it's a situation of abandonment ... Puff is still going to be a very big part of things I do. I plan on still working with him, of course."