Sean ‘Diddy’ Combs, the US rapper, has reportedly sold off his stake in Revolt, his TV network.
Diddy founded Revolt in 2013 alongside Andy Schuon. The company was established to promote black culture including songs from up-and-coming artistes.
In the wake of the myriad of sexual assault allegations against him in November 2023, Diddy stepped down from his role as chairman of the company.
According to TMZ, Diddy has sold his remaining shares of Revolt to an anonymous buyer.
Although the deal’s financial terms were not revealed, the report added that the company will remain black-owned.
It was gathered Revolt TV’s new owners want their identity hidden for the next few weeks until a formal announcement at a later date.
IDetavio Samuels, Revolt’s CEO, and Deon Graham, the chief brand officer, it was gathered, will retain their positions until the deal is finalised, while there will not be too many changes to other offices.
The development comes at about the same time when the federal agent raided two properties linked to the rapper.
Brendon Paul, the man who is suspected to be a drug mule for the rapper, was also arrested for alleged possession of cocaine and marijuana.
Last November, several women, including Cassie, the rapper’s ex-girlfriend, took Diddy to court, claiming they were sexually assaulted.
Rodney “Lil Rod” Jones, Diddy’s former producer, also filed a lawsuit alleging that the rapper sexually harassed, drugged, and threatened him for over a year.
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