"I'm One Of The Most Successful African-American Television Executive Producers In History"

Bad Boy Records CEO Diddy may have recently signed rapper French Montana to his growing music empire, but heading into 2012 the rap mogul is looking to place large emphasis on taking over the television and film industry.

While mum on the details, Diddy said a big announcement will be unveiled soon.

"I have huge plans for both. Twelve months ago, I basically relocated to L.A. I still live in New York, but I'm bi-coastal. I have some major announcements at the top of the year on things I'm producing--an announcement that's bigger than anyone can realize on something I'm acquiring. And also, films that I'm starring in. I'm looking forward to 2012; it's a huge transition for me out of music onto the big screen and continuing my legacy as a producer. You know, I'm one of the most successful African-American television executive producers in history. I've had six shows on the air at one time. I don't say that in a braggadocio way. But you should definitely remember this conversation and look back at it and say, "I remember he told me he was going to make some huge announcements." (Ad Week)

He also described his dream to fully takeover every aspect of a person's lifestyle decisions.

"My dream was that you would wake up in the morning, your alarm would go off, one of my records would be playing. You'd get in the shower and use my shampoo. Then you would get out and use the beauty products. You'd get dressed and put on Sean John [clothing], and then you would go to work. And after work, you would go and change into your evening wear to go out to a club or out on a date and you'd put on Sean John again, spray on another of my fragrances, stop by and have a drink of Ciroc. And then maybe take your young lady out to a movie that I was starring in." (Ad Week)

In March, reports emerged online suggesting Diddy could become hip-hop's first-ever billionaire.

This week we've released a new list, one that measures rappers not by annual earnings, but by net worth. We've dubbed this select group "The Forbes Five." Sure enough, our original holy trinity of moneymaking is present; their fortunes total just over $1 billion. And there's plenty of room to grow, especially for Diddy, who leads the pack with $475 million. Diddy's ten-figure dreams hinge on a lucrative partnership with Diageo's Ciroc vodka. Diddy teamed up with alcohol conglomerate back in 2007 with the aim of perking up sales for the fledgling spirit. Diageo agreed to split any profits with him; if the company ever sold Ciroc, he'd be entitled to a share of the proceeds. The rationale: Why not? The brand wasn't selling, and Diddy was always known for having a flair for marketing. (Forbes)

Last year, the 42 year-old business executive spoke on his dominance in music, fashion and other aspects of the entertainment industry.

"I was the first on the jet. I was the first running the marathon. I was the first donating millions of dollars. I was the first. I was the first with the 10 million records sold. I was the first with the label. I was the first with the renegotiations. F*ck a Forbes list--I was on the cover of Forbes. There is going to be someone that will pass me, but as long as I'm on the court, they are not going to be badder than me, because there is too much catching up to do...There is not one muthaf*cka that's here now who is going to outwork me. That is not going to happen, not right now. Maybe if I slow down, but to this day, no one can f*ck with me when it comes to getting busy and working." (XXL Mag)