P. Diddy's Bad Boy Has A New Home

Rap mogul inks distribution deal with Universal Records.

P. Diddy's got a new girlfriend: Universal Records.

Last year, after declining to renew his contract with Arista Records, which distributed Bad Boy Records, Puffy started playing the field.

"[There are] a lot of conversations going on," he said back in May about working out a new distribution deal. "Everybody that I'm dating right now is looking very sexy and beautiful" (see "Diddy Weighs Bad Boy Distribution Deals, Eyes Foxy Brown").

But now the flirtation has ended and Diddy's inked a deal with Universal to distribute, market and promote Bad Boy's releases. The contract also stipulates that Diddy will retain 100 percent ownership of Bad Boy and keep the entire roster of artists.

The first spawn from the partnership will be new albums from Dream, Loon, Carl Thomas and a Notorious B.I.G duets album.