Sean ‘Diddy’ Combs sells shares in media firm REVOLT – Entertainment News

Sean ‘Diddy’ Combs has sold his shares in REVOLT.

Amid a raft of serious abuse allegations the disgraced rapper is facing, his media company – has been declared “fully redeemed and retired” from REVOLT.

A statement from the firm read: “As the company continues to pioneer a new era of entertainment that empowers creators and establishes a new media model, this transformative structure ensures that the employees who are driving the company’s growth also have the opportunity to benefit from its success.

“The allocation of equity participation will be rolled out over the next few months. We’re working diligently to ensure a smooth and fair distribution process.

“Aligned with REVOLT’s mission of changing the narrative of Black culture globally, this unprecedented move sets a new industry standard that will provide equity participation opportunities for current and future employees — many of whom come from groups that have been historically disenfranchised from such opportunities.”

It noted: “Shares held by the company’s former chair, Sean ‘Diddy’ Combs, have been fully redeemed and retired.”

REVOLT released a damning statement on the CCTV footage and urged victims of abuse to contact a domestic violence group.

It said on Instagram: “We are deeply saddened and disturbed by the recent video circulation of our former chairman, Sean ‘Diddy’ Combs.

“Even with his recent separation from Revolt, it is still our duty to address this matter, and recognize the direct impact has on our staff, our audience, and the culture we represent.”

Combs co-founded Revolt in 2013, and the company added it “stands in solidarity with all who have been a victim of abuse and remain committed to upholding the values and integrity our community expects from us.”

It also said: “We vehemently stand against any form of domestic abuse and will always be a fearless advocate for truth and accountability.”

REVOLT ended its statement by sharing the contact information for the National Domestic Violence Hotline.

Combs temporarily stepped down as chairman in November 2023, after Cassie, who he dated for 10 years, filed a lawsuit against him.

It accused the rapper – who has changed his name to Sean Love Combs – of rape and physical abuse, and detailed the hotel beating incident featured in the recently-released footage.

Combs settled the lawsuit out of court the day after it was lodged.

The Los Angeles District Attorney’s Office will not file charges against Combs due to a statute of limitations which stops them prosecuting over attacks as far back as 2016.

Combs said in his apology video, released on Instagram, that he was “truly sorry” for beating Cassie.

He started the video by saying it was “so difficult” to reflect on the “darkest times of your life”, but said: “Sometimes you have to do that.”

Diddy added: “I was f****** up. I mean I hit rock bottom but I make no excuses. My behaviour on that video is inexcusable.

“I take full responsibility for my actions in that video. I’m disgusted. I was disgusted then when I did it and I’m disgusted now.”

The footage showed Combs holding a towel around his waist as he chases after Cassie before he strikes her, hurls her to the floor and kicks her as she lies motionless on the ground.

He then grabs her bags and continues to assault Cassie before dragging her across the elevator bank into the hallway.

A second camera angle of the assault shows the singer slowly standing up and gathering her bags after the attack ends – with Combs sitting on a chair directly in front of her as she picks up a phone in the hallway.

Combs is then seen grabbing what seems to be a vase and throwing it at the singer.

Diddy was hit with a wave of lawsuits in late 2023 and early 2024, including allegations of sex trafficking and sexual assault.

The cases remain active, and he has denied all claims against him.