SeanDiddy Combs‘ five-year contract with Warner Music is up in April, and sources say he may jump labels. “Diddy was supposed to release his new album, ‘Last Train to Paris,’ with Atlantic Records [a division of Warner] in November,” said an insider. “But he’s holding off on releasing it until April. If he doesn’t renegotiate his contract, he might end up releasing it on Interscope.” Diddy is friends with Interscope CEO Jimmy Iovine, and tongues are wagging about a possible partnership. Combs started Bad Boy Records as a joint venture with Warner Music in 1993, but one insider said, “Who knows what will happen with Bad Boy if Diddy leaves?” Combs’ spokeswoman said, “We are unable to comment at this time.”