DIDDY WINS AN ACADEMY AWARD FOR "UNDEFEATED"

Diddy took home an Oscar for serving as executive producer on the documentary.

Last night, Diddy won an Oscar at the 84th annual Academy Awards for serving as executive producer on the documentary Undefeated.

The Bad Boy mogul signed on as executive producer earlier this month for a remake of the flick, nabbing a production credit on the original version during the process. The film, which won in the Best Documentary at last night’s ceremony, focuses on a group of college football students and their struggles to succeed during one particular season.

Acknowledging the victory, Diddy tweeted, “DREAMS DO COME TRUE!! Hard work pays off!!”

RAPPER JIM JONES GETS ARRESTED IN CASINO BRAWL

Jim JonesJim Jones was arrested Saturday after a brawl that took place at Foxwoods Resort Casino in Connecticut following a party hosted by Sean “Diddy” Combs. The rapper was taken to a local police station and released on bond later.

According to state police spokesman Lt. J. Paul Vance, the fight started a little after 2 a.m. Saturday in the foyer of the MGM Grand Hotel following a party that was hosted by Sean "Diddy" Combs. A total of five people were charged and one detective was treated for minor injuries at a hospital and released, the spokesman added.

An attorney for hip-hop artist Jim Jones declined to comment on the news. However, the 35-year-old New York-based rapper and actor, also known as Capo, took to Twitter to address the incident. "40k in bonds 1 night had a ball let’s see if I can get that 40 back on the crap table," he tweeted after being released from police custody. Jones added later Saturday, "This is getting blown way out of proportion."

It is yet to be determined how the brawl broke out after the party, which was thrown by Combs as part of a 20th anniversary celebration for Foxwoods. However, multiple sources told TMZ.com that a drunken man started insulting Jim Jones before punching him in the face. The rapper allegedly fought back, prompting the man's friends to join in, and then members of Jones' entourage came to his rescue.

It was not the first time Jim Jones, born Joseph Jones, crossed paths with the law. Previously, the “We Fly High” singer made headlines after he was fined $200 for driving his Bentley with a suspended license in New York.

In 2009, Jim Jones was arrested on a misdemeanor assault charge for punching one of R&B star Ne-Yo's friends at a Louis Vuitton boutique. He pleaded guilty and was sentenced to time served – the few hours he was in custody after turning himself in to police.

Jim Jones, who performs as a part of a Harlem-based rap band, boasts a list of hit tracks including “We Fly High” and “Pop Champagne”. His new album, “Capo”, was released in April.

Apart from a successful music career, Jim Jones also has a T-shirt line. He also appeared in a 2009 play called “Hip-Hop Monologues: Inside the Life and Mind of Jim Jones”, which was based on his life on the road. He recently starred with his girlfriend, Chrissy Lampkin, in the latest season of VH1’s “Love and Hip Hop”.

DIDDY--- GRAMMY AFTER PARTY TICKETS .... $50, 000 A POP

If you wanna party with Diddy at the Playboy Mansion, you better be freakin' LOADED -- because TMZ has learned, tickets for the rapper's post-Grammys after party top out around $50,000 each.

The cheapest ticket is a slightly more affordable $1,500 and they go up from there -- $15,000, $25,000 ... all the way up to $50,000 -- depending on what services you may require at the black tie affair.

Sources connected with the party promoters tell TMZ, the $50,000 Monster Cabana ticket gets you 2 cabanas, VIP admission for 20 people, buffet dinner, open bar, free bottle service ... and 15 dedicated female promotional models.

Thankfully, it's all for a good cause -- the party's proceeds will go to benefit the Angelwish Foundation for children afflicted by HIV/AIDS.

DIDDY TO LUNCH MUSIC TV NETWORK REVOLT ON DECEMBER 12TH

Puffy plans to venture into music television by the end of the year.

From vodka entrepreneur to professional actor, Diddy has never been one to shy away from the chance to expand his brand. Now, the Bad Boy mogul is looking to branch into a new frontier with a music-themed television network Revolt.

According to Broadcasting Cable, Diddy is launching a new television network called Revolt on December 12, 2012. Sources indicate that Revolt will focus primarily on music and music videos, a la MTV.

Although there are few details about the kind of distributiong the network will receive, Revolt will reportedly be distributed by Comcast and Time Warner Cable service providers.

Purpleworld Entertainment will keep you updated as more information on Diddy's new network comes to light.

HEAVY D REMEMBERED AT FUNERAL BY BARACK OBAMA, REV. AL SHARPTON AND MORE

Guests at the service included Q-Tip, Queen Latifah, Don King and more. Following Heavy D’s sudden death last week, a funeral service was held in Mount Vernon, New York to honor the fallen rapper. During the ceremony, Rev. Al Sharpton read a letter from President Obama who expressed his condolences for his family’s loss. “We extend our heartfelt condolences at this difficult time.

He will be remembered for his infectious optimism and many contributions to American music. Please know that you and your family will be in our thoughts and prayers,” read the note. Additional guests at the ceremony included Usher, Don King, Q-Tip, John Legend, Rosie Perez and

Sean “Diddy” Combs. The Bad Boy mogul was quoted as stating that Heavy D was there for him “"at my darkest hour" and "was the first person to believe in me." Singer Johnny Gill performed the gospel hit “Never Would Have Made It,” while Hev’s nieces tearfully sang “His Eye is On the Sparrow.”

Diddy and Jennifer Lopez: Getting Back Together?

First, Ben Affleck. Now, Diddy. Tabloids are really desperate to get Jennifer Lopez back together with an ex. A source tells BET that Diddy really wants to get back together with new newly-single ex because she is "the love of his life" and his "fantasy girl." However, friends worry that J. Lo will break the hip hop mogul's heart again, similar to how she dumped him in 1999 when he was on trial for weapons charges.

Witnesses claim to have seen Lopez and Diddy together in New York City this week, while a friend of the former says: "Puff wouldn't be my first choice for her, but then again he was always very supportive of her sex symbol image and never got mad when she wore sexy clothes. He actually encouraged it."For those of you unfamiliar with the rumors surrounding Jennifer's divorce, that was a direct dig at Marc Anthony. Yes, it's on, folks.