NEW PICS: DIDDY RECEIVES STAR ON HOLLYWOOD'S WALK OF FAME + POST-CEREMONY PARTY PICS.

Ain't this a blip?! Sean Diddy Combs became the first rapper to be honored on the Hollywood Walk of Fame on Friday (5.2.2008) when he unveiled the 2,362nd star outside Hollywood landmark Mann's Chinese Theater. Well, somebody done told somebody wrong...because I remember quite clearly watching video footage of Will Smith receiving his star on the Hollywood Walk of Fame six months ago. And I damn sure consider Will more of a rapper than Diddy. Anyhoo, Oscar award winner Jamie Fox, fellow music moguls Russell Simmons and LA Reid were among the celebrities who paid tribute to Diddy at the event. Producer Dallas Austin, Michael Bivins (of New Edition), the Arch Bishop Don Magic Juan, rapper Doug E. Fresh as well as Diddy's mother Janice Combs, girlfriend Kim Porter and five of his six kids including his toddler twins D'Lila and Jessie James were also in attendance.

And in true Diddy fashion, the multi-media mogul says he now has his sights set on a second star on the Walk of Fame. He says, "They gave me my thing for music and now I'm trying to find out if, once I become an actor, you'll put another one on there (sic). I'm going to get another one, I'm coming back, baby."

Greedy ass.

Peep the pics below.

MORE PICS OF DIDDY & HIS FAMILY AT THE CEREMONY + PICS FROM THE MOGUL'S PARTY AT MEL'S DINER ARE ALL AFTER THE JUMP!

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Below are pics of celebrities attending a party for Diddy at Mel's Diner in Los Angeles after the mogul was honored with a star on the Hollywood Walk of Fame.

READ MORE AFTER THE JUMP!

JAY-Z RETIRES HIS POSITION AS PRESIDENT OF DEF JAM RECORDS; THEN AGAIN HE RETIRED FROM RAP AND CAME BACK! SO....

...And here I was thinking today was gonna be a slow news day!

Shawn “Jay-Z” Carter said Monday that he will leave his post as president of Universal Music Group’s Def Jam Records label after his contract expires this year. The rapper, who was named Def Jam president three years ago, said in a statement that it is “time for me to take on new challenges.” He will continue to release his own music through his record label, Roc-A-Fella/Def Jam after his contract expires Dec. 31. Antonio “L.A.” Reid, chairman and CEO of Island Def Jam Music Group, said the label regrets Carter’s decision to move on. “While he will continue to be one of our signature artists, he will nonetheless be missed in this executive capacity,” Reid said in a statement.

Carter took over Def Jam in December 2004 in an incentive-laden deal that was reportedly valued at up to $10 million. His appointment followed the exit of Lyor Cohen, who departed to be chief executive of Warner Music Group. As Def Jam’s president, Carter signed a number of acts including Ne-Yo and Rihanna, one of the record label’s biggest sellers this year with her hit Umbrella.

Carter co-founded Roc-A-Fella records with Damon Dash in 1995. The label has since become wholly owned by Def Jam, home to Kanye West, among others. Carter has sold tens of millions of records during his career, powered by hits such as Big Pimpin’ and Give It To Me.

He famously said a few years ago that he was retiring from recording music, but returned last year with the album Kingdom Come. Most recently, he recorded an album inspired by the Denzel Washington film, American Gangster.

READ MORE AFTER THE JUMP!