Diddy is no longer associated with Revolt TV, the culture and music-focused television network he founded in 2013. He is completely done and as TMZ claimed from their report, the network is under new ownership.

Now get this: sources in the know about the purported deal say the embattled mogul sold off all his shares to a mystery buyer for a sum that has not been disclosed. Now the word is the company in itself “remains Black-owned,” which is supposed to be aligned with, as TMZ puts it, upholding “its original connection and dedication to furthering the culture.”

It’s still hazy as to what Revolt was let go for regarding the sale, but one thing is clear: the new owner is keeping a low profile for now, and for good reason. There’s a lot of heat around the Sean Combs, with Monday’s raids by the feds, so now may not be the best time to announce a business deal of that magnitude for one of Diddy’s brands. Now, sources say that the owners or owners share a passion for Black culture, which is a broad statement, but they intend to introduce themselves formally in the coming weeks.

ICYMI, Diddy has been inactive with Revolt since he stepped down as Chairman in November. According to TMZ, the deal was amicable, and all the players involved are happy.

Interestingly, it appears the new owner is not cleaning the house, as Revolt’s CEO Detavio Samuels and Chief Brand Officer Deon Graham will both stay in their current roles to support the incoming boss, at least initially. Additionally, the report mentions that the incoming team is not doing any major shakeups with the existing staff or even how production is handled. 

While the transition moves at a gradual pace, the new owner’s vision will take shape, but it seems like Revolt TV will look pretty much the same for now. Stay tuned.

The post Diddy Sells All Shares of Revolt TV to Mystery Buyer first appeared on The Source.

The post Diddy Sells All Shares of Revolt TV to Mystery Buyer appeared first on The Source.

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