March 27, (THEWILL)- Sean Combs, aka Diddy, has reportedly sold off his stake in Revolt, his TV network.
The music entrepreneur 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 and subsequently sold his remaining shares of Revolt to an anonymous buyer.
Although the deal’s financial terms were not revealed, the company it was gathered will remain black-owned.
It was gathered that 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.
The development comes at about the same time when federal agents raided two properties linked to the rapper.
Last November, several women including the rapper’s ex-girlfriend, Cassandra Ventura aka Cassie, took Diddy to court, claiming they were sexually assaulted.
Rodney 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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