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While Sean “Diddy” Combs has sold all shares in Revolt, speculation remains about the company’s new mystery buyer. In a previous report shared by AFROTECH™, the transaction, which is said to be “amicable and has left everyone happy,” still does not disclose who the new company owner is or the deal’s value. Per The Hollywood Reporter, Revolt launched in 2013 and was created as a first-of-its-kind channel in the cable television network space. The company honed in on how millennials, also known as the generation of “cord-cutters,” were disrupting how music and entertainment were consumed. “You have more and more bands and artists going across the whole ecosystem. Music is very healthy,” Keith Clinkscales, who helped launch Vibe magazine and former Revolt chief executive officer (CEO), told the outlet in 2013. He added, “To have a place that can be the center of that, we would like to earn that position by reaching our fans well. We have to have good access and engage with the artists,...
Months after music executive Sean “Diddy” Combs announced that he was stepping down as chairman of Revolt TV, a music-oriented digital cable television network, the company has been sold to an anonymous buyer. According to TMZ, the Hip-Hop mogul sold all his shares in the company he founded in 2013 alongside Andy Schuon. However, the person who made the purchase as well as the transaction amount remain unknown. The outlet’s sources reveal that the purchaser is said to “share a deep passion for Black culture.” Moreover, a formal introduction of the television network’s new owner is set to be revealed in the next few weeks. While Diddy’s last order of business with the company is selling it, sources say that it is “an amicable deal” and that “everyone’s happy,” per the outlet. As previously reported by Variety, the rapper and record producer launched Revolt TV from the childhood home of his friend and former Bad Boy Records artist, the late great Notorious B.I.G., or simply Biggie....