Sean ‘Diddy’ Combs has reportedly offloaded his remaining stake in Revolt TV to an anonymous buyer.
Per a TMZ report, the mogul’s shares were purchased for an undisclosed sum, and will remain Black-owned.
The move follows the recent bombshell sexual assault allegations leveled against Diddy, in which his former girlfriend Cassie Ventura alleged his participation in sex trafficking, abuse among other illicit activities.
Following the suit filing, Diddy vacated his seat as Revolt chairman in November 2023.
“Sean Combs has stepped down from his position as chairman of Revolt,” the message states per the outlet. “While Mr. Combs has previously had no operational or day-to-day role in the business, this decision helps to ensure that Revolt remains steadfastly focused on our mission to create meaningful content for the culture and amplify the voices of all Black people throughout this country and the African diaspora.” At the time, Diddy’s move was detailed as “temporary.”
As previously reported by ESSENCE, Diddy also amicably parted ways with Diageo, the spirits-maker that once produced Deleon, the tequila Combs was tied to for nearly a decade.
“Sean Combs and Diageo have now agreed to resolve all disputes between them,” according to a joint statement shared with ESSENCE from both parties. “Mr. Combs has withdrawn all of his allegations about Diageo and will voluntarily dismiss his lawsuits against Diageo with prejudice. Diageo and Mr. Combs have no ongoing business relationship, either with respect to Cîroc vodka or DeLeón tequila, which Diageo now solely owns.”
