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From SOHH.com:

Sean 'Diddy" Combs and Jay-Z are reportedly in negotiations with Comcast to launch a Video On Demand channel with urban themed programming.

And from the New York Post:

That would explain why hip-hop stars Jay-Z and Sean "Diddy" Combs, along with Harvey and Bob Weinstein, were spotted at the cable operator's massive Market Street compound in Philadelphia last week. One source familiar with the meeting said it was both a getting-acquainted session and a chance to bounce around ideas about urban programming.