Fresh from Bad Boy's merger with Warner Music, Sean "P. Diddy" Combs is now teaming up with Cuban rapper Pitbull to form Latin hip-hop label Bad Boy Latino.

The news was announced in Miami during the Billboard Latin Music Conference which will include the broadcast of tonight's Billboard Latin Music Awards. The label got a proper kickoff with a party at Miami's Bongos Cuban Cafe.

 ''It's gonna focus on Latin artists and the fusion of what I do marketingwise . . . to embrace the movement and take it to the next level,'' Diddy said.

Although no artists have been signed yet, the label plans to be about half Latin rap artists, as well as Latin soul and tropical music.

As previously reported, Pitbull has been enjoying major success with his debut album M.I.A.M.I.: Money Is A Major Issue, which has been certified gold. He will be involved in signing artists, marketing and running the new label.

''With Puffy involved, it helps our movement. Whether people see it as him jumping on what's hot -- I see it as someone with vision who sees where music is going,'' Pitbull said.

''I was always embraced by the Latin community and have been embraced by them,'' he said.  "It's a little more than a business opportunity.''