Sean “Diddy” Combs has reportedly sold off his stake in his media empire Revolt TV amid sexual assault allegations and a federal raid. He stepped down as chairman in November and has now sold his remaining shares to an anonymous buyer, with the company remaining Black-owned. Financial terms of the deal were not disclosed, but the new owner will eventually be formally introduced as the head of the media company. The current CEO and chief brand officer will remain in their roles for the time being.
The deal was finalized this week, and follows federal raids on Diddy’s Miami and Los Angeles homes. Homeland Security Investigations New York led the law enforcement actions with assistance from other agencies. Diddy’s lawyer criticized the use of military-level force in the raids, calling it excessive and describing it as an “unprecedented ambush”. Diddy’s lawyer also mentioned the mistreatment of his children and employees during the raids.
The raids occurred months after Diddy’s ex-girlfriend Cassie accused him of rape and repeated sexual abuse in a lawsuit. They reached a settlement one day after the suit made headlines. Following Cassie’s lawsuit, multiple people have come forward accusing Diddy of sexual assault. Diddy has denied all allegations, and it is unclear if there is a connection between the allegations and the federal raids on his homes. Diddy’s lawyer criticized the excessive use of force in the raids and the treatment of his children and employees.
There has been no comment from Diddy’s representative about the sale of his stake in Revolt TV or the federal raids on his homes. The new owner of Revolt TV has not been revealed, as they are keeping their identity under wraps for now. Diddy’s lawyer has raised concerns about the raids and the treatment of his children and employees, noting the excessive use of force by authorities. It remains to be seen how these developments will impact Diddy’s media empire and his reputation in the industry.
