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Diddy Sells Off Stake in Revolt, the Media Company he Founded in 2013

LOS ANGELES (AP) — Rapper and entrepreneur Sean “Diddy” Combs has sold his stake in Revolt, the media company he founded more than a decade ago.

Los Angeles-based Revolt said in a statement on its website Tuesday that all of Combs’ stock in the company, which he held as chairman, had been redeemed and redeemed in full.

Revolt did not disclose how much Combs was paid for his stake in the hip-hop news entertainment company he founded in 2013.

In a statement, CEO DeTavio Samuels said that when he joined the company in 2020, he realized “our mission is bigger than any individual’s.”

Revolt also announced a new ownership structure that will give employees equity in the company, which offers online streaming shows such as “Black Girl Stuff” and “The Life of Draco,” starring rapper Big Draco.

The move comes after Combs’ reputation was tarnished by multiple lawsuits filed late last year alleging sexual assault and rape by one of hip-hop’s best-known performers and producers.

In November he R&B singer Cathy suedCombs said he subjected her to years of abusive behaviour, including beatings and rape. The lawsuit was settled. I met with Cathy (whose real name is Cassandra Ventura) a few days after the lawsuit was filed.