Essence Magazine Owner Richelieu Dennis Is Reportedly The Mystery Buyer Of Diddy’s Revolt TV

Richelieu Dennis, Diddy

Essence Magazine Owner Richelieu Dennis Is Reportedly The Mystery Buyer Of Diddy’s Revolt TV

Out with the old, in with the new.

Earlier this week news broke that Diddy sold all his shares of Revolt TV to a mystery buyer. Reports of the sale followed several sexual assault allegations surrounding the record executive and his homes being raided by the Department of Homeland Security. Initially, it was said the company remained Black-owned, but the full identity of the person behind the deal was kept under wraps…until now. According to a report from Page Six, Richelieu Dennis – owner of Essence Magazine – is now Revolt’s leading man.

An insider shared with the publication,

“The deal is already done, and they are getting ready to announce it in the upcoming days. But of course, now with the raid and everything else going on, it will appear as though he is purchasing after the fact.”

The source continued,

“It was important [to] Sean to get a buyer that was African American because he wants to keep the legacy of having a Black-owned business. He started it off that way and he wants it to continue on that path.”

Richelieu Dennis

Richelieu Dennis is no stranger to spearheading a company. The successful businessman co-founded the popular haircare line Shea Moisture in Harlem in the 1990s and eventually sold the company to Unilever. In 2018 he purchased Essence Magazine from Time Inc. However, his time with the publication hasn’t been all smooth sailing. In 2020, Richelieu Dennis found himself at the center of bombshell allegations thanks to a public letter by Black Female Anonymous — a group reportedly consisting of former/current Essence employees. A few other execs were named in the exposé as well, and all mentioned parties soon stepped down from their positions.

Dennis resigned as interim CEO, however, he reportedly remained on as the chairman of Essence.

At the time of this report, neither Diddy nor Dennis has spoken on the alleged sale.

What are your thoughts on this entire situation? Are you happy to see someone else head Revolt TV? Tell us in the comments below! 

[VIA]