Mr. Last Call has a new calling.

Already a host and producer for shows on NBC, MTV and Clear Channel radio, Carson Daly's quest for world domination continues, as the hunky hyphenate looks to add another credit to his expanding r?sum?: music mogul. This week, Daly is set to announce the launch of his own record label, 456 Entertainment.

"With my involvement, people probably think we're looking for the next Avril Lavigne," Daly tells E! Online, "but that's not necessarily true. We want young guys and girls who are making music in their basements right now that otherwise wouldn't have their music heard by a record label. We are encouraging everyone to send us music, and we aren't worried about volume."

Daly envisions his 465 to be very artist-friendly. Although the label is attached to EMI-owned Caroline Distribution, the deal is structured in a way that allows select artists to go through any major label. That means 456 can theoretically take bigger risks and give musicians more time to develop and build careers. The label's Website, www.456entertainment.com, will showcase new talent that Daly personally recommends, whether or not the artists are on 456.

"When major labels search for bands, they need to find music that will get on commercial radio, strike a chord with young America, and sell massive units just so they can cover their costs," says Daly, who's been working on the label launch for years. "We believe this is the perfect time for a true independent label with an independent spirit to emerge. We are a great entry-level place for developing artists, but we can also roll certain albums right into a major when the demand is there."

The concept of 456 began when Daly partnered with Loud Records cofounder Jonathon Rifkind (who will serve as co-CEO with Daly) and recruited Loud exec John B. Davis as label president. In the hip-hop world, Loud Records earned acclaim for discovering and developing such artists as the Wu-Tang Clan, Xzibit, the Beatnuts, Mobb Deep, the Liks, Big Pun and the X-ecutioners, among others.

"With Loud Records, I had a vision where we eventually became a full spectrum label that catered solely to the underground," says Rifkind. "As credible as we became on the hip-hop urban side, I had a vision to do the same with rock. With 456, we can work towards this goal in all genres."

Adds Davis, "Our ability to utilize such a wide range of resources and experience allows 456 to give developing artists a uniquely positive and productive label home to launch their careers."

Some of the first 456 artists scheduled for release include Seymour Glass (think Deftones meets Radiohead), the hip-hop group U.N. and London-based deejay-producer Photek, a Virgin Records alum whose new project pairs drum and bass with guest rap emcees.

After making his mark as a deejay at KROQ in Los Angeles, Daly earned national acclaim as the creator and host of MTV's Total Request Live. Though still involved in TRL, Daly entered a production deal with NBC in 2001 that included his late night talk show, Last Call with Carson Daly. The show, which debuted in January of 2002, is about to launch its third season with a revamped set and opening segment.

He's also working with NBC to become the next Dick Clark and launch his own New Year's Eve franchise, which will likely launch on December 31, 2004. Finally, the sleepless star remains true to his radio roots with Most Requested, a daily radio show that airs on more than 140 stations.

With so much on his plate, it's surprising that Daly would launch a new record label, yet at the same time, this venture provides a new type of creative fulfillment for the star.

"With the record label, I get to dig deeper into the source and develop and give opportunities to artists," says Daly. "In my other ventures, I'm more like a bartender serving up what people request, but 456 Entertainment will be a true extension of my musical taste."