Wednesday, June 05, 2024

Revolt Employees Become Largest Shareholders


Back in March Bad Boy Entertainment CEO, Sean 'Diddy' Combs, gave up controlling shares in 'Revolt,' the TV network he founded in 2013, after facing a series of lawsuits [click here if you missed that]. 

Now current Revolt employees hold the controlling shares...

From Variety
Revolt has announced a new ownership structure after its founder, Sean “Diddy” Combs, stepped aside as chairman of the television and media company.
Current employees will become the largest shareholder group of Revolt as Combs’ shares of the company have been fully redeemed and retired.
Employee participation will be allocated over the coming months as Revolt promises staff members a detailed breakdown of the process. The change in ownership comes after various reports of big-money investors seeking to buy Combs’ stake in the company, including Essence Ventures CEO Richelieu Dennis.
Notably, the company, of which about 80% of the staff are people of color, will remain Black-owned under the new structure.

10 comments:

Chelle said...

Good for them but I just don't like diddy. Why he doing this now. He wasn't thinking about him then. Im glad for them. When is he going to get what he deserves.

Anonymous said...

Liquidating assets because he will be digging deep into his pockets for his upcoming legal defense.

R in NYC said...

Welp...this is just the beginning of him selling off assets. Real question...will he run to a non extraction country?

Anonymous said...

Allegedly, he wasn't actively involved in Revolt.

Anonymous said...

Well he can’t say he turned his life around, referring to himself as Love, and not pay his dues to society after being a monster for decades.

Anonymous said...

Useless stock if Revolt's not successful. They better hope the new owners can turn the company around and fix its tarnished image.

No Chiraq said...

Under it's new(est) model, will someone green light Young Miami, CARESHA PLEASE's talk show :)

Anonymous said...

Very smart and it's the best way to retain incredible talent, especially during a crisis.

Anonymous said...

I Like IT When YOU Scrambling & Scrapping DADDY

Anonymous said...

@12:26 Nobody dont want the shyt!

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