Diddy Exits Warner for Interscope

Sean “Diddy” Combs is jumping off the Warner Music train and boarding a new one at Interscope Records.

The music mogul confirmed to Billboard.com that he is parting ways with Warner Music Group/Atlantic Records at the end of September.

“Now that the term of the Warner deal has ended, I have elected to accept an opportunity to move my recording career and future label venture to another company,” he said in a statement.

Diddy leaves behind his joint venture Bad Boy Entertainment and acts including Cassie and Day26, which will remain on Atlantic along with the Bad Boy catalog.

Since signing with WMG five years ago, Diddy released one album, Press Play, in 2006, which spawned the hit singles “Come to Me” and “Last Night.” It has sold 703,000 copies to date.

Reports indicate that the rapper’s forthcoming album Last Train to Paris will land at Interscope Records, home to Eminem, 50 Cent, and Gwen Stefani.