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Following Diddy's Exit, Revolt Employees Now Become The Company's Largest Shareholder Group

Revolt employees now become the largest shareholder group of the media company, The New York Times reports. As AFROTECH™ previously reported, Diddy had exited his position as chairman of Revolt TV and sold his remaining shares to an anonymous buyer. Now it has been announced by Revolt CEO Detavio Samuels that Diddy has officially separated from the company he founded in 2013 alongside Andy Schuon. “One-hundred percent of Sean Combs’s shares have been redeemed and retired,” Samuels said, according to The New York Times. “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.” The majority of Revolt’s employees, which consists of about 80% people of color, are now the company’s largest shareholder group, the outlet notes. The initial value of Diddy’s shares in the company is unclear. “Today marks one of the biggest days we’ve seen at REVOLT and in media (especially Black media),”...

Jun 4, 2024

Will.i.am Joins Uproxx Studios As Partner And Investor, Which Is A Result Of An Acquisition Of Uproxx, HipHopDX, And More From WMG

Will.i.am is immersing himself further in the media landscape. According to a press release, he has joined Jarret Myer and Rich Antoniello in forming Uproxx Studios. It is described as a brand solutions studio led by influential leaders in media and music who will consider culture and push it forward. The new entity has been established following the acquisition of Uproxx, HipHopDX, Dime Magazine, and other major media assets from Warner Music Group (WMG), such as the exclusive license to represent its YouTube content. Looking ahead, Uproxx Studios and WMG will remain in collaboration to guarantee seamless execution for their partners. Antoniello, partner and executive chairman of Uproxx Studios as well as founder and ex-CEO of Complex Network, commented, “This is a game-changer. We’re merging the agility and freedom of an independent entity with the reach and resources of a major music label. This is the recipe for groundbreaking content and unparalleled brand experiences.” Uproxx...

Apr 25, 2024

House Of Representatives Approves Bill That Could Ban TikTok In The US

A ban on TikTok may be imminent in the United States. As AFROTECH™ previously reported, a 12-page bill was proposed by the House of Representatives to eliminate its use and access in the United States if its China-based parent company ByteDance doesn’t sell the platform. This would cause great disruption to many as more than 150 million individuals in the United States are TikTok users, according to the social platform’s website. The bill, which was introduced as the Protecting Americans from Foreign Adversary Controlled Applications Act , serves to “protect the national security of the United States from the threat posed by foreign adversary controlled applications,” per CBS News. If the bill is green lit by the Senate and President Joe Biden and signed into law, ByteDance will be required to sell the platform within 180 days — or it will be banned from distributing the app and any others through its subsidiaries or firms “controlled by a foreign adversary.” On March 13, 2024, the...

Mar 13, 2024