Sean ‘Diddy’ Combs sold all his Revolt TV shares and is no longer involved with the firm.
According to TMZ, Diddy sold his shares to an interested buyer for an unknown amount. However, the firm remains Black-owned and committed to advancing the culture.
Diddy has not worked for the network since leaving as Chairman in November after Cassie's sexual assault lawsuit.
TMZ reports that “Revolt’s CEO Detavio Samuels and Chief Brand Officer Deon Graham will remain in their current positions and assist the owner while the contract is official.” Revolt TV staffers can expect no major production or staffing changes.
Following FBI searches on Diddy's Los Angeles and Miami houses on Monday, reports arise of him selling business shares. We noted that his attorney, Aaron Dyer, made a statement after the DHS raid on his residences.
“There is no excuse for the excessive show of force and hostility exhibited by authorities or the way his children and employees were treated,” Dyer said. Mr. Combs cooperated with officials without being imprisoned. Despite media conjecture, Mr. Combs and his family have not been jailed or barred from traveling.
The probe reportedly came from five legal complaints accusing Combs of sexual assault or abuse.
A Department of Homeland Security official said the search was part of an ongoing investigation involving numerous law enforcement agencies.
Dyer called the search a “unprecedented ambush.”