Update: Diddy Sells All Revolt TV Shares To Anonymous Buyer

Diddy

Update: Diddy Sells All Revolt TV Shares To Anonymous Buyer

Update: (Mar. 26, 2023): It’s the end of an era.

According to a report from TMZ, Diddy is no longer associated with Revolt TV. The entertainer founded the media outlet alongside Andy Schuon in 2013. However, in November 2023, news broke that Diddy stepped down from his role as the company’s chairman. The exit came after he settled a bombshell sexual assault lawsuit with his ex, Cassie, and then was hit with more lawsuits from other alleged victims.

Initially, it was said Diddy’s break from Revolt was meant to be temporary, but things are now permanent. Insiders said the 54-year-old recently sold off all his Revolt shares for an undisclosed amount. The buyer’s identity has yet to be revealed, but it’s reported the company is still Black-owned. The new owner will purportedly share who they are with the public in the coming weeks.

As far as staffing is concerned, the report noted that CEO Detavio Samuels and Chief Brand Officer Deon Graham will remain with the company. In addition, major changes in production or other employees should not be expected.

[VIA]

Original Story: (Nov. 28, 2023): Media mogul Diddy is distancing himself from his business.

His media company REVOLT recently announced that the 54-year-old will be stepping down as the company’s chairman in light of the recent sexual assault lawsuits filed against him.

In a statement posted to their X account (formerly Twitter), reps for the brand wrote:

“Sean Combs has stepped down from his position as Chairman of REVOLT. While Mr. Combs has previously had no operational or day-to-day role in the business, this decision helps to ensure that REVOLT remains steadfastly focused on our mission to create meaningful content for the culture an amplify the voices of all Black people throughout this country and the African diaspora.”

Adding:

“Our focus has always been one that reflects our commitments to the collective journey of REVOLT – one that is not driven by any individual, but by the shared efforts and values of our entire team on behalf of advancing, elevating and championing our culture,”

One report states that the decision is temporary, though REVOLT’s statement does not clarify whether or not that is the case. Temporary or not, 50 Cent is using the moment to make it known that he has his eyes on REVOLT. In a statement shared to Instagram, he wrote,

“I’ll buy that from you play boy, for the low because you know Cadillac and AT&T gonna pull out. I’ll give you a few dollars for it now! Sell it to me, then we can be friends — I’m serious call my phone”

Diddy’s step back from the company comes just days after one of his podcast employees exited the media platform over the recent abuse claims noted in the bombshell suit filed by his ex, Cassie. Soon after, Diddy was named in two additional sexual assault lawsuits.

As we recently covered, the “Gotta Move On” artist is accused in the new cases of drugging and raping a woman named Joie Dickerson-Neal back in 91′, as well as raping another woman and her friend, allegedly carrying out the crime with the help of singer Aaron Hall, around the same time.

Although Diddy quickly settled the lawsuit involving Cassie, where she accused him of subjecting her to “savage beatings,” sex trafficking, and sexual violence, his lawyers remain adamant he’s innocent of any wrongdoing.

“[This is] no way an admission of wrongdoing. Mr. Combs’ decision to settle the lawsuit does not in any way undermine his flat-out denial of the claims. He is happy they got to a mutual settlement and wishes Ms. Ventura the best.”

Maintaining the stance, his legal team reportedly released another statement following the additional complaints that read:

“The claims involving alleged misconduct against Mr. Combs from over 30 years ago and filed at the last minute are all completely denied and rejected by him. He recognizes this as a money grab. Because of Mr. Combs’ fame and success, he is an easy target for accusers who will falsify the truth, without conscience or consequence, for financial benefit.”

Adding:

“The New York Legislature surely did not intend or expect the Adult Survivors Act to be exploited for improper purposes. The public should be skeptical and not rush to accept these unsubstantiated allegations.”

It does not appear that Diddy has made any statements about the matter himself at this time.

[VIA]

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