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Article: Warner in bad way: Diskery buys half of Combs' record shingle.(Warner Music Group acquires half of Bad Boy Records from Scan Combs)
- Article from:
- Daily Variety
- Article date:
- April 15, 2005
- Author:
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HOLLYWOOD -- Scan Combs has officially sold half of his Bad Boy Records to Warner Music Group for approximately $30 million.
Combs will continue to serve as CEO. Deal, expected since early February, will continue for at least three years. Warner Music will distribute and market new Bad Boy releases and take over the Bad Boy Records catalog, which includes recordings by Notorious B.I.G., Mase, Carl Thomas, Faith Evans and Mario Winans.
Combs praised Warner Music's top level of management--Edgar Bronfman Jr., Lyor Cohen, Kevin Liles and Julie Greenstein for their work as competitors and colleagues. "This is the best situation for both of us because I can ...