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Sean Combs, the entertainment impresario known as Diddy, plans to launch a music-themed cable network, according to three sources with knowledge of his plans. The channel is called Revolt and is aiming to launch at the end of the year – 12/12/12, to be specific.

Sources describe “Revolt” as a music and music news channel with an urban skew. One described it as the old days of MTV, but for more of the African-American audience. The venture is well funded, say the sources.

Comcast will provide distribution as part of its commitment to the FCC to help launch minority-owned networks. In April, Comcast began soliciting proposals for “independent channels.” It plans to launch 10 channels over the next 8 years, including eight Hispanic or African-American owned channels.

Each of the 10 will be added to “select Comcast systems.”

Comcast also announced its plans to launch an “American Latino”-operated channel by July 28, and an African American-owned one by January of 2013, which would fit Diddy’s 12/12 time frame.

A Comcast rep would not confirm Diddy’s involvement, saying no announcements had been made on which among the “well over 100” proposals are getting the green light. The rep said discussions with the proposals’ principals are ongoing, and that Comcast hoped to have an announcement soon.

A source said Time Warner Cable (TWC) will also be involved in the distribution of Diddy’s “Revolt” channel, which the source noted would mean around 18 million households, between Comcast and TWC.

Diddy’s Bad Boy Entertainment headquartered in New York did not respond to calls.

Diddy has had a variety of business ventures throughout his successful career as a performer, producer and entrepreneur.