>> Hi, everybody. Behind me is where the trouble began for sean puffy combs a little over a year ago. Club new york here in new york city just off times square. A shooting, an intense public trial and intense public scrutiny. It's all behind him now, acquitted of all the charges. Now sean puffy combs begins to put his life back together. Sean combs, the first interview since the trial, right now. Let's talk about what your life is like now, today. You've told us you've been blessed. What are your feelings right now about what has happened?
>> I continue to feel blessed. When i wake up in the morning, that's the feeling i get. I'm grateful to god for pulling me out of that situation.
>> I just want to say i give all glory to god. Give all glory to god. There's so many things that this situation right here has taught me, you know what i'm saying? It's made me -- it's even made me humble. More than that it's made me appreciate life. It's made me appreciate life and appreciate everything I have even more. If i have to have the instances to choose whether you go to a recital for your son or have a concert date, ville to cancel concert dates to not miss those type of moments.
>> Reporter: Sean combs walked away from court a free man and, he says, a changed man. You look at him now, and he looks, acts, relaxed, possibly softer, more subdued. But the truth is, he is puff daddy, and there is an aura attached to that. Even he told me, like a modern-day sinatra, he does it his way, all right. But it almost cost him his freedom that fateful night 14 months ago that started out as a beautiful night and ended in a nightmare. One of the things you had to have learned in all of this, talking about some of the things you learned, is being at the right place, or the wrong place at the wrong time. Is that the biggest lesson?
>> If I could have done anything i would of just stayed home. I would have never come up with this bright idea.
>> Reporter: You said let's go out, instead?
>> I said let's go out. I played myself, man. But i had the most beautiful thing at home. I had the best party i could have been right there by my side. I should have just stayed there with her.
>> Reporter: Seven tense weeks on trial, millions spent in legal fees, freedom won, but is this just another trial for the hip-hop mogul? Over the last ten years, he's nearly escaped a string of run-ins with the law.
>> I've gone through some major moments and some major things. It's like I hope to god this is the last thing that, you know, that i have to go through.
>> Reporter: Will there be an image change? Is the puff daddy gone out of your life?
>> I'm going to change my name.
>> Reporter: Are you going to change your name?
>> I'm doing a name chink. We are going to change it to p-diddy. I don't know what the image is going to be. We are still going to have fun. I'm still going to enjoy life to the fullest.
>> Reporter: Sean will officially change his name to p-diddy in june. But, for now, he wants to retire his bad-boy rap. Puffy daddy signs off forever and sean combs takes a vacation. Who will come back from the vacation, puff daddy or sean combs?
>>> Most important thing is to get my mind right and my heart right. Right now we are signing off for a couple months, just wanted to get you to say good-bye, bon voyage.
>>> Welcome back here in new york city. Not only did his trial become an intense public display, but also his high profile relationship with jennifer lopez. That all came to a head just four days ago, when he and jennifer and her boyfriend met up at a party in los angeles. You saw her at the oscars. Did you go to the party to say hi to her?
>> Yeah, i saw her at the party. She looked beautiful. She looked incredible.
>> Reporter: Less than two months after their headline-grabbing split, puff daddy and jennifer lopez crossed paths under the glaring lights of hollywood's biggest night. The scene -- the flashbulb frenzy that is the post-oscars 'vanity fair' bash. Only this time, jennifer had a new man on her arm, boyfriend chris judd. I spoke to her, and she said he called you after the acquittal.
>> Yeah, yeah.
>> Reporter: I know you're still friends with sean. Did you talk to him after?
>> Reporter: And what did --
>> very happy. At the end of the day, justice was done and that he didn't have to go through anything else. We're very happy.
>> We were speaking before that, and spoke after that and spoke to her the other day.
>> Reporter: Did you go to the party to see her and chris?
>> No. No. I went to the party. I was invited. I was in town. I looked forward to seeing her. She's somebody i will always love. You sometime get those people that cross your path that you'll always love. And I'm going to see her again. We're going to meet again one day.
>> Reporter: Your heart broken?
>> Yeah, yeah, my heart's broken. My heart kind of twisted out. But my heart is strong. It's hard being a celebrity in a relationship and this was a rough year. But I just want her to be happy. At the end of the day, i want her to be happy.
>> Reporter: Try to get her back at all?
>> I can't really talk about all that-that. I can tell you i still love her and I'll always love her.
>> There is lots of good news. As we go on to sean, the businessman. His clothing line, sean jean, projected revenues of $100 million. His two restaurants are doing so well, he plans to expand. And his bad boy record company after a tough year last year is doing well with the group 112 and dream.
>>> The breakup of jennifer lopez and sean 'puffy' combs during his trial made headlines everywhere. Now puffy is speaking out for the first time about their future.
>> I'll always love her, you know. That's just the way it is, and I just want her to be happy. It's been a rough year. We went through a lot of things, and I'm just glad the whole ordeal is over.
>> Reporter: He says that, despite their fame, they tried to maintain their privacy.
>> To me, me and her were never celebrities. She's jennifer, I'm sean, and it's going to always be like that.
>> Reporter: As 'e.T.' Previously reported, the two both attended 'vanity fair's' academy awards party but stayed on opposite sides of the room.
>> I saw her at the oscars, and I was happy to see her, she's a woman that i'll always love. Always have a place in my heart.
>> Reporter: He told us he's extremely relieved and thankful for his acquittal on weapons and bribery charges. He's said he's looking to start over and plans to change his name to p. Diddy come june. He's also looking to develop his acting career.
>> I know one thing I must say is that I'm going to win me an oscar one day. I'm going to win me an oscar one day. I'm definitely going out to hollywood and really put my foot down and really have a revolution go on out there. So just watch out.
>> Combs does have a movie coming out in july. It's a comedy called 'made' with jon favreau and vince vaughn.
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