Diddy has completely severed his ties with Revolt TV, the network he founded in 2013, as it transitions to new ownership, according to information obtained by TMZ. This marks a significant shift for the company, which remains committed to its roots in Black culture under its new ownership.
Insiders close to the transaction revealed that Diddy divested all his shares to a buyer whose identity and the purchase amount remain undisclosed. However, it has been confirmed that the company will continue to be Black-owned, maintaining its foundational mission to promote and nurture the culture.
The specifics of the sale, including the final price, are still under wraps. The new owner, opting for anonymity at present, reportedly shares a profound dedication to Black culture. Plans for a formal public introduction are expected in the forthcoming weeks, signaling a new chapter for Revolt.
Since stepping down as Chairman last November, Diddy has distanced himself from the network’s operations. His last involvement was acknowledging the sale, which insiders describe as amicable and satisfactory for all parties involved. The transition was finalized this week, marking the end of an era for Diddy at Revolt.
Revolt’s leadership, including CEO Detavio Samuels and Chief Brand Officer Deon Graham, will continue in their roles, supporting the new owner as the transition unfolds. Importantly, no significant changes are anticipated for Revolt TV’s staff or production processes during this period.
As the new owner gradually introduces their vision, the essence of Revolt TV is expected to remain intact for the immediate future. This continuity ensures a smooth transition for the network, its employees, and its audience.
Amidst these changes, questions arise about the timing of the sale in relation to Diddy’s personal challenges, including recent raids on his properties. However, sources indicate that the sale’s negotiations were well underway before these incidents, suggesting no direct connection.
As Revolt TV embarks on this new journey under fresh leadership, the focus remains on its core mission and the anticipation of what the future holds for the network and its contribution to Black culture.