Diddy Talks New Record Deal, Reveals Collabos With Jay-Z, Lil Wayne

Bad Boy mogul also worked with Drake, T-Pain and Rick Ross for Last Train to Paris, his Interscope debut.

[artist id="1244169"]Diddy[/artist] has had a few mantras over the years, from "we won't stop" to "the saga continues," which also doubled as an album title of him. Now, the hip-hop heavyweight has another one to add to the list: "It's a new era for Bad Boy."

Diddy has taken his label to a new company, recently announcing a partnership with Interscope Records after spending the past five years at Atlantic Records. The new union will usher in Diddy's next LP, the much-hyped concept album Last Train to Paris. On the project, Diddy will be aided by ex-Danity Kane singer Dawn Richard and songwriter Kalenna Harper, who make up the group Dirty Money along with the music mogul.

Diddy said Interscope — which includes Dr. Dre, Eminem, 50 Cent and Lady Gaga, among others — is the best home for the high-minded project, tentatively slated for an early 2009 release.

"The Last Train to Paris album is definitely a perfect fit for the whole Interscope system, because the album is pushing the envelope, it's something fresh and it's something new," he told MTV News. "And we know that when Interscope gets behind an album and gets behind an artist that it breaks big."

For the album, Diddy has lined up some big names to join him on his trans-Atlantic journey, including Drake, T-Pain, Rick Ross, Lil Wayne and possibly Jay-Z, the Bad Boy top dog revealed to MTV News.

"The thing about the album, it's not about the features," Diddy said. "Each artist, they got down with the story line, they got down with the movement. I think that's when features work — when people come into your work and they adapt to what you're trying to portray."

According to Diddy, his new deal came together after he and Interscope/Geffen/A&M chairman Jimmy Iovine entered into several other business deals first, including a set of headphones similar to the Beats by Dr. Dre line. The "Making His Band" superstar acknowledged Lyor Cohen and Julie Greenwald, executives at Warner Music Group and Atlantic, and profusely thanked them for a harmonious parting. His roster of acts, including Cassie and Day26, will stay at Atlantic. Diddy's career and any new acts he signs will be part of the Interscope family.

"I feel like I'm in great company. I'm in the best company of the world," Diddy said. "I feel like how A-Rod felt when he got traded to the Yankees."