The deal calls for Combs not only to develop shows for MTV, but also to consult and possibly appear on the shows, The Hollywood Reporter said Wednesday. Combs stars in and executive produces the MTV series "Making the Band 3."
Combs told The Reporter the deal is different from his other business deals because it involves a significant commitment of funding to his company.
"It's a big step, my first TV executive producer deal," Combs said. "It gives me a chance to create content, but it also doesn't limit me to do things outside."
Notable deaths of 2014 [PHOTOS]