In the video above, Diddy appears with Chase N. Cashe and Hit-Boy, Co-CEOs of the Surf Club, a music production company.

The video indicated to me that Bad Boy may have entered into some sort of formal relationship with them, perhaps a production management deal. But, the duo is already signed to Polow Da Don's imprint, Zone 4 Inc., and is simply working with Bad Boy on some upcoming projects, according to Cashe, who I spoke with shortly after watching the video. "We're working with Diddy on material for multiple projects," he said.

When asked if there was a deeper connection, he indicated there was one, but declined to go into detail. "The connection is deeper, for the world to be surprised."