Is Diddy shutting down Bad Boy Records? Although the hip-hop cash king recently celebrated the label’s 20th anniversary, it appears that the company is under a cloud of uncertainty.

After swirling rumors about employees being fired or transferred to other companies like his newly launched Revolt TV, a rep told XXLMag.com that "Bad Boy shutting down is nothing more than rumors" and "isn’t true."

So far, Diddy has yet to respond to the rumors.

Meanwhile, Diddy officially launched 'Revolt Live' on Monday (Jan. 27) at the channel’s new studio in Los Angeles. Described as a Sportscenter for music news, the program will air live twice daily -- at 5PM and 8PM ET -- with news and events happening around the world.

In addition, Revolt TV will be celebrating Super Bowl XLVIII this weekend in New York with a special pre-game concert featuring Drake at Time Warner Cable studios on Saturday (Feb. 1).