Sean “Diddy” Combs has reportedly agreed to a deal to sell his stake in Revolt TV after stepping down as chairman in November amid sexual assault allegations.
According TMZ, Combs sold the remaining shares of Revolt to an unnamed buyer. The report notes that the company will remain Black-owned. Financial terms of the deal were not disclosed.
The new owner of Revolt TV is reportedly keeping his identity under wraps for the next few weeks, but will finally have an official introduction as head of the media company later.
The deal was reportedly finalized this week. Revolt's current CEO, Detavio Samuelsand chief brand officer, Deon Grahamthey will remain in their roles for the time being.
The news comes as Combs' homes in Miami and Los Angeles were reportedly raided by federal agents on Monday (March 25). The raids were carried out by Homeland Security “in connection” with an ongoing federal sex-trafficking investigation, according to reports.
TMZ reported Monday that New York Homeland Security has opened an ongoing investigation connected to Combs and that the case is being handled out of the Southern District of New York.
As officers swarmed the Los Angeles property, video appeared to show people being detained, two of whom appeared to be Diddy's sons, King Combs and Justin Combs. It is unknown if the elder Combs was at either home during the raids.
Combs has been the subject of numerous sexual assault-related civil lawsuits in recent months. Ex-girlfriend Cassie lit the fuse in November 2023 when she filed a lawsuit accusing Combs of physically abusing and repeatedly sexually assaulting her while they were dating. The two parties agreed to settle the lawsuit less than 24 hours later.
Later in November, after being accused of sexual assault by two more women, Combs resigned as president of Revolt, which he helped start in 2013. In the months since, he has been accused of sexual assault in two additional lawsuits: one that filed by a Jane Doe who claimed he “sexually trafficked” and “gang-raped” her and another by a music producer who allegedly worked with Combs on his 2023 album, The Love album: Off the Grid.
Bad Boy's CEO denied any wrongdoing and attempted to clear his name with a social media post in December.
“ENOUGH IS ENOUGH,” Combs wrote at the time. “For the past two weeks, I have sat in silence and watched people try to assassinate my character, destroy my reputation and my legacy. Heinous accusations have been made against me by people looking for a quick payout. Let me be absolutely clear: I did not do any of the awful things they claim. I will fight for my name, my family and for the truth.”
Advertising sign has reached out to representatives for Combs for comment on this story.
from our partners at https://www.billboard.com/music/rb-hip-hop/diddy-sells-revolt-tv-stake-mystery-buyer-1235641879/
