All Episodes

June 6, 2024 10 mins
Revolt, the media company co-founded by Sean “Diddy” Combs, has undergone a seismic shift in ownership. Combs, facing multiple sexual assault allegations, recently sold his majority stake in the company. The reins now pass to Revolt’s own employees, marking a rare and transformative structure in the media landscape.

In a statement released yesterday, Revolt CEO Detavio Samuels confirmed the transition: “One hundred percent of Sean Combs’ shares have been redeemed and retired. He is no longer chairman. He is no longer on the board. He has no shares, no equity in Revolt. We have completely separated and dissociated from each other.”

This move positions Revolt’s employees as the new stewards of the company, a groundbreaking shift that reflects their commitment to amplifying Black culture globally. Samuels expressed pride in the transformation: “Our teams will experience a shift from being employees to owners of the business they are helping to build. Revolt’s superpower lies in being the home for creators who move culture globally.”

Combs’ departure from the board occurred last November when the allegations surfaced. The chart-topping artist faced claims of sexual harassment directed at colleagues and other women in the music industry. Additionally, he settled a claim related to physical abuse against his ex-partner and fellow musician, Cassie.

The recent release of surveillance video from 2016, showing Combs violently assaulting Cassie in a hotel, further intensified scrutiny. Employees at Revolt expressed deep concern upon viewing the footage, emphasizing their commitment to a safe and respectful workplace.

Speculation now swirls around Combs potentially facing a criminal indictment. Earlier this year, federal investigators raided his homes, probing allegations of money laundering and illegal drug activities. CNN reported that the investigation remains ongoing.

Revolt’s transition to employee ownership represents a bold step toward reshaping media dynamics, even as Combs’ legal battles continue. 

Want to listen to ALL of our podcasts AD-FREE? Subscribe through APPLE PODCASTS, and try it for three days free: https://tinyurl.com/ycw626tj
Follow Our Other Cases: https://www.truecrimetodaypod.com
The latest on The Downfall of Diddy, The Trial of Karen Read, The Murder Of Maddie Soto, Catching the Long Island Serial Killer, Awaiting Admission: BTK’s Unconfessed Crimes, Delphi Murders: Inside the Crime, Chad & Lori Daybell, The Murder of Ana Walshe, Alex Murdaugh, Bryan Kohberger, Lucy Letby, Kouri Richins, Malevolent Mormon Mommys, Justice for Harmony Montgomery, The Murder of Stephen Smith, The Murder of Madeline Kingsbury, and much more! Listen at https://www.truecrimetodaypod.com
Mark as Played

Advertise With Us

Popular Podcasts

1. Dateline NBC
2. Amy and T.J. Podcast

2. Amy and T.J. Podcast

"Amy and T.J." is hosted by renowned television news anchors Amy Robach and T. J. Holmes. Hosts and executive producers Robach and Holmes are a formidable broadcasting team with decades of experience delivering headline news and captivating viewers nationwide. Now, the duo will get behind the microphone to explore meaningful conversations about current events, pop culture and everything in between. Nothing is off limits. “Amy & T.J.” is guaranteed to be informative, entertaining and above all, authentic. It marks the first time Robach and Holmes speak publicly since their own names became a part of the headlines. Follow @ajrobach, and @officialtjholmes on Instagram for updates.

3. The Dan Bongino Show

3. The Dan Bongino Show

He’s a former Secret Service Agent, former NYPD officer, and New York Times best-selling author. Join Dan Bongino each weekday as he tackles the hottest political issues, debunking both liberal and Republican establishment rhetoric.

Music, radio and podcasts, all free. Listen online or download the iHeart App.

Connect

© 2024 iHeartMedia, Inc.