Russell Simmons divulged on Monday that he has plans of venturing into the television industry. According to the Wall Street Journal, the Hip Hop mogul is looking into buying a television network that focuses on diversity. During an interview at a charity event in Hong Kong, Simmons said he believes that when networks claim "diversity," what they really mean is "segregation" and an exclusive focus on black culture. "Instead, there's all these cultures that should be more integrated properly…Instead of giving Paris Hilton a show, for example, you could do one with Amber Rose. You'd be better off. One is hot, the other is not."

In an effort to bring a Hollywood feel to network TV, he is currently working with Brian Grazer, producer behind the films 8 Mile and American Gangster, and Ron Howard who worked with Grazer on films like A Beautiful Mind and Apollo 13.

Although an official announcement has not yet been issued, Simmons emphasized that he would definitely follow through with the business plan. "Now you've heard about it," he said. "It's going to happen."