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Elektra Makes Offer for Bad Boy Label

July 30, 2002|Bloomberg News

Elektra Entertainment Group Chief Executive Sylvia Rhone offered Sean "P. Diddy" Combs $30 million to bring his Bad Boy label to AOL Time Warner Inc.'s Warner Music Group, the New York Post reported, citing sources.

The sources said Combs, who is seeking a $100-million offer, wants to use Rhone's offer to get higher bids from Sony Corp.'s Sony Music Entertainment and Vivendi Universal's Universal Music Group.

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