Sean “Diddy” Combs, the multi-platinum artist and successful CEO of Bad Boy Records is making a new business move. The music mogul confirmed the recent reports that he would be parting ways with Warner Music Group, to release his upcoming album Last Train To Paris with Interscope Records.

Jimmy Lovine, chairman of Interscope, took this opportunity to venture with the experienced businessman: “Whenever a free agent like him comes along, which is rare, you grab him.”

The rest of Bad Boy’s current roster, including artist like Cassie, remain with Bad Boy’s WMG venture. It is unsure how the transition to Interscope will be handled for these artists, and who will follow the boss to the new joint-venture label…

Diddy’s new album, Last Train Paris, has been pushed back and is expected to drop in Spring 2010.

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