Diddy continues to face backlash amid multiple abuse allegations and lawsuits. The very company he started back in 2013 he is no longer apart of. Today June 4 (Tuesday) the media company announced their new structure set in place for the music -oriented cable channel that was created to showcase black talent.
"The new ownership structure of REVOLT grants employees an equity stake in the company, while it remains Black-owned and operated. This move underscores our commitment to advancing our mission of becoming the preeminent media company driven by creators and fueled by culture," the company affirmed.
REVOLT issued a statement condemning Diddy for his actions......“We are deeply saddened and disturbed by the recent video circulating of our former chairman, Sean ‘Diddy’ Combs,” the company said. “Even with his recent separation from REVOLT, it is still our duty to address this matter, and recognize the direct impact it has on our staff, our audience, and the culture we represent.”
Diddy's legal troubles are reaching back over a span of 30 years causing his Florida and California mansions to be raided. With at least 8 lawsuits brewing there are no signs of the smoke clearing any time soon. Facing legal, financial, and personal backlash since leaked Cassie video.
The Los Angeles-based company announced on its website that the shares in Revolt owned by Combs, who served as the company's chair, have been completely redeemed and retired.
In the statement, CEO Detavio Samuels noted that when he joined the company in 2020 he realized “our mission is bigger than any individual.” reported by ABC New.
Sean "Diddy" Combs, along with Andy Schuon, co-founded REVOLT in 2013. However, he resigned as chairman in November 2023 following a series of sexual misconduct lawsuits and allegations, initially raised by his ex, Cassie Ventura. The leaked hotel footage exemplifies the behavior Ventura detailed in her lawsuit against the tainted rap mogul.
What we don't know is how much Diddy was paid for majority stake in REVOLT ? Do you think all business partners and or associated businesses will continue to sever ties? Drop your thoughts below.