We reported a while back that Diddy would be launching a new TV newtork called Revolt, and now Diddy has made the announcement official with a video blog.

As well, the New York Times reveals more details about Revolt, saying, "Mr. Combs will bill Revolt as a music and news television channel influenced by the nonstop chatter of social networking Web sites. It is the latest of several challenges to MTV and BET, both owned by Viacom."

Watch Diddy's announcement below.