Sean 'P.Diddy' Combs Preparing Making The Band 3, Looking To Purchase Theatres

Sean "P. Diddy"

Combs will resume his fascination with shaping young hip-hop hopefuls into stars

with the MTV series "Making the Band 3," premiering March 3 at 10

p.m. ET.

This time the hip-hop

impresario is looking for the next hottest girl group.

"Making the

Band 3" will follow Combs as he discovers and molds an all-female pop group

into superstars, beginning with a batch of 19 aspirants.

The girls reside

and compete together in a New York City loft, and are judged on their dancing

and vocal skills, as well as star power and "willingness to be part of

a group."

"I take pride in being a star-maker and having had the

chance to work with the biggest and most successful women in the music industry,"

said Combs in a statement. "But there is nothing like finding and nurturing

new talent and watching their rise to fame."

Contrary to previous seasons of "Making the Band,"

the female contestants will have no advance warning as to when they will be

cut, nor will they know when Combs will make unexpected visits to the Soho residence.

Viewers may recall, the young members of Diddy's

former hip-hop group Da Band, who were assembled during the first season of

"Making the Band," continually struggled to maintain peace amongst

themselves. Diddy ultimately split up the cheesecake-fetching bunch.

"This new

season brings us a completely different dynamic, Lois Curren, Executive Vice

President of MTV Series Entertainment, said. "The drama is sure to ensue

with 19 girls living under one roof and fighting for a chance of a lifetime."

Judges beside Combs include Johnny Wright, founder of Wright

Entertainment Group (WEG), choreographer Laurie Ann Gibson, Doc Holiday, a songwriter

and vocal coach, and Phil Robinson, who has managed Combs for the last four


More than 40 million viewers tuned in to last season's

"Making the Band II," ranked number one in its time interval against

basic cable among viewers ages 12-34.

In related news, Diddy may be expanding his empire by looking

to acquire parts of Andrew Lloyd Webber's theatre group,

British publications reported Monday (Jan. 24).

Combs' Bad Boy Worldwide Entertainment could make a bid on four

of RUG's century-old theaters in London, according to newspapers.

While Lloyd Webber

remained quiet about details of whether Combs approached him, his office confirmed

last week in a statement that Lloyd Webber received an inquiry regarding the

purchase of parts of his businesses.

The process is

described as "in developmental stages," with no concrete decisions

made yet.

Bad Boy issued no comment on the reports.

Lloyd Webber is

full owner of the Really Useful Group (RUG) and the creator of the musical hits,

"Cats," "Evita," and "The Phantom of the Opera."