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*Sean ‘Diddy’ Combs has divested all his shares in Revolt TV and is now unaffiliated with the company as an owner or in any capacity.
Per TMZ: “Sources familiar with the deal tell us Diddy recently sold off all of his shares to an interested buyer for an undisclosed sum — but we’re told the company remains Black-owned … upholding its original connection and dedication to furthering the culture,” the outlet writes.
Since resigning as Chairman last November following Cassie’s sexual assault lawsuit against him, Diddy has had no involvement with the network.
According to TMZ, “Revolt’s CEO Detavio Samuels and Chief Brand Officer Deon Graham will remain in their current positions and assist the owner while the ink dries on the contract,” the outlet writes. Revolt TV employees can expect no significant alterations in staffing or production.
Reports of Diddy selling his company shares surface following FBI raids on his homes in Los Angeles and Miami on Monday. We reported earlier that his attorney, Aaron Dyer, issued a statement in response to the Department of Homeland Security raid on his properties.
“There is no excuse for the excessive show of force and hostility exhibited by authorities or the way his children and employees were treated,” Dyer’s statement read. “Mr. Combs was never detained but spoke to and cooperated with authorities. Despite media speculation, neither Mr. Combs nor any of his family members have been arrested nor has their ability to travel been restricted in any way.”
The investigation purportedly stemmed from civil suits filed by five accusers accusing Combs of sexual assault or abuse.
A Department of Homeland Security spokesperson stated that the search was part of an ongoing investigation carried out with support from multiple law enforcement agencies.
Dyer characterized the search as an “unprecedented ambush.”
READ MORE: Diddy’s Camp Makes First Statement After DHS Raids – Lawyer Criticizes Searches | VIDEO
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