P. Diddy wants to become a movie star.

The rapper has set his sights on a Hollywood career and is planning to produce and star in a remake of cult 1990 gangster movie, King of New York. The 43-year-old star - real name Sean Combs - has joined forces with Oscar-winning director and producer Brian Grazer for a fresh take on Abel Ferrara's film, which starred Christopher Walken, Laurence Fishburne and Wesley Snipes.

"Sean optioned the rights to remake King of New York for two years. The film is a cult classic, and it will be great to remake it. Our version won't be exactly the same, but will have the same hard-core gangster feel. Sean wants to be in it, he was amazing in Monster's Ball, and such strong characters sit perfectly with him," a source told the New York Post.

The dark drama follows a reformed drug lord who becomes a modern-day Robin Hood by redistributing his profits to the poor living in New York City's deprived areas.

As well as appearing in Monster's Ball, Diddy has had minor roles in Get Him to the Greek and Made and has parts in upcoming films Draft Day and Muppets Most Wanted.