Sean “Diddy” Combs, mogul and REVOLT chairman, announced today (October 5) that he is bringing his Bad Boy record label to Epic Records in a partnership with L.A. Reid.

The two executives issued statements about the deal, which will find Epic handling the business end of promotion, marketing and distribution, while Bad Boy is set to sign new acts and release new projects.

“I have known L.A. Reid since the very beginning and together we have enjoyed countless successes over our long friendship,” said Combs, the Bad Boy founder. “To now work with L.A. in this capacity feels more like a homecoming than a new beginning. Not only is he a fearless and smart businessman, he believes in artists and understands music better than anyone. He embodies hard work and true success, evident in all of his endeavors. To collaborate with L.A. Reid is to collaborate with the very best.”

Added Reid, “Sean ‘Diddy’ Combs AKA Puff Daddy and I have been musical collaborators since the 1990s. When we both ran independent record labels, myself with LaFace and soon after, Puffy with Bad Boy. Over the years, we not only enjoyed incredible success together, but we also became lifelong friends. Today, of course, Puffy is truly in a league all his own, continuing to influence culture and ignite musical revolutions time and time again. He’s a true innovator and I could not be more excited to join forces once again.”

“It’s a pleasure being in business with three major music labels as we approach our third decade of making music for our peers and fans,” Harve Pierre, President of Bad Boy Entertainment, said.

Currently, Combs is riding high with the release of “Finna Get Loose,” his collaboration with Pharrell Williams. The two producers collaborated on the track and appeared in the Hype Williams-directed video. The Combs Enterprises head has also been in the studio with Kanye West, among others.