Reports circulating suggest that music mogul, Diddy, has sold his remaining stake in Revolt TV to a buyer whose identity is presently not known. This development follows the music star’s home raid by federal police.
According to a report by TMZ, he sold his shares for an undisclosed sum, though it remains Black-owned. There are however plans for an announcement of their arrival in the coming weeks. As previously reported, in November 2023, Sean Combs relinquished his role as Chairman of Revolt TV, amid a flurry of allegations relating to sexual assault.
Following his decision to step down, he released a statement via Revolt’s Instagram page explaining his action. He noted that the decision was to enable the business to remain steadfastly focused on its mission to create meaningful content for the culture, as well as amplify the voices of all Black people throughout the USA as well as the diaspora.
There has been a barrage of hits on Diddy’s business endeavors following the allegations of sexual assault that have come his way.
Multinational alcoholic beverages company, Diageo, announced its decision to reach an agreement with Sean “Diddy” Combs, following a legal dispute.
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Per previous reports, Combs accused Diageo of racial discrimination and neglect of his DeLeón brand.
Combs filed a lawsuit in May 2023 against the company in the New York Supreme Court and claimed the company neglected the spirits under their joint control, specifically Ciroc and DeLeón.
He argued that the company had not provided the same level of marketing and promotion to Ciroc and DeLeón as it had to other brands in its portfolio.
Diddy added that the company had undermined the business by marketing Ciroc and DeLeón as “urban” rather than appealing to the general market.
Responding to the lawsuit, Diageo filed a motion to dismiss the case the following month and stated that it would no longer work with Combs. The company argued that Combs had failed to fulfill his obligations as agreed upon in their previous dealings.
