Sean "Diddy" Combs has sold a majority stake in Revolt, the media company and television network he founded in 2013, according to the company.
Revolt, a Black-owned multi-platform media company, has announced its largest shareholder group is now its own employees. In a press release, a spokesperson for Revolt said that the new ownership model ensures that employees who are driving the company鈥檚 growth can also benefit from its success, aligning with an emerging industry trend of equity participation.
鈥淭oday, we are most proud of the transformation that our teams will experience as they shift from being employees to owners of the business they are helping to build,鈥 CEO Detavio Samuels said in a statement on Tuesday. 鈥淏lack culture is global culture, and Revolt鈥檚 superpower is being the home for creators that move culture globally, allowing us to build the most powerful storytelling engine for Black voices.鈥
A spokesperson for Revolt said that shares held by Combs have been 鈥渇ully redeemed and retired.鈥
Representatives for Combs did not immediately respond to CNN鈥檚 request for comment.
Combs stepped aside as chairman of Revolt in November, after he was named is several civil lawsuits in which he has been accused of sexual assault and other illegal activity. Combs has vehemently denied claims from many of the civil suits but has not responded to all of the allegations.
Last month, CNN published a 2016 surveillance video that showed Combs physically assaulting Cassie Ventura, a former girlfriend who filed a now-settled civil suit against Combs in November 2023.
Combs apologized for his actions in the video nearly two days after CNN鈥檚 report was first published.
Meanwhile, federal investigators are preparing to bring accusers of the music mogul before a federal grand jury, according to two sources familiar with the probe 鈥 signaling the US Justice Department is moving toward potentially seeking an indictment of Combs.
Federal investigators are also looking into allegations of money laundering and illegal drugs, CNN reported.
Revolt Media was founded by Combs in 2013 with the intention of highlighting Black culture and hip-hop.
Conservative Leader Pierre Poilievre and NDP Leader Jagmeet Singh got into a heated exchange in the House of Commons on Thursday, just minutes after Singh announced his party would not be supporting the Conservatives' first non-confidence motion against Prime Minister Justin Trudeau's government.
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Prime Minister Justin Trudeau tapped Treasury Board President Anita Anand to take on additional duties as Canada's minister of transport on Thursday.
CTV News has learned there are multiple Canadian women alleging they were victims of sexual abuse at the hands of the late Harrods boss Mohamed Al Fayed.
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Quebec Premier Francois Legault is calling on the Bloc Quebecois to topple the Trudeau government next Wednesday and trigger a federal election.
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A judge in a rural Kentucky county was shot and killed in his courthouse chambers Thursday, and the local sheriff was charged with murder, police said.
Israel warned U.S. Defence Secretary Lloyd Austin in a call Tuesday that a military operation was going to take place in Lebanon but gave no details, U.S. officials said Thursday. The same day of the call, in an attack widely blamed on Israel, thousands of pagers belonging to Hezbollah militants exploded.
A 22-year-old woman who became an abortion rights advocate after she was raped by her stepfather as a child tells her story in a new campaign ad for Democratic presidential nominee Kamala Harris.
South Korea鈥檚 government, western countries and adoption agencies worked in tandem to supply some 200,000 Korean children to parents overseas, despite years of evidence they were being procured through questionable or downright unscrupulous means, an investigation led by The Associated Press found.
Israeli security services said on Thursday they had arrested an Israeli citizen on suspicion of involvement in an Iranian-backed assassination plot targeting prominent people including Prime Minister Benjamin Netanyahu.
The head of Via Rail repeatedly told MPs a train delay over the Labour Day long weekend was an isolated incident, despite a similar event two years ago.
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Prime Minister Justin Trudeau tapped Treasury Board President Anita Anand to take on additional duties as Canada's minister of transport on Thursday.
Ontario鈥檚 Minister of Sport, Neil Lumsden, will donate his brain to research.
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Lebanese authorities on Thursday banned walkie-talkies and pagers from being taken on flights from Beirut airport, the National News Agency reported, after thousands of such devices exploded during a deadly attack on Hezbollah this week.
NASA scientists have successfully replicated spider-like shapes found on the surface of Mars in a laboratory setting for the first time.
Lawyers representing the producers of 'Russians at War' say they may pursue legal action against Ontario's public broadcaster for pulling support for the controversial documentary amid outcry from the Ukrainian community and some Canadian politicians.
Viewers of Jeopardy got a chance to test their knowledge of trivia about B.C.'s biggest city Wednesday night.
British actress Florence Pugh has revealed that shaving her head for her latest movie role was a 'really bizarre' experience that sent her body 'into a bit of trauma.'
A case involving stolen funds from a Saskatchewan business being used to purchase cryptocurrency will be heading back to the courts, thanks to a new decision by Saskatchewan's Court of Appeal.
Nike Inc. said Thursday it has named Elliott Hill as its president and CEO, replacing John Donahoe, who will retire next month.
Maple Leaf Foods asserted its innocence in an alleged bread price-fixing scheme ahead of a hearing to determine whether it will be added to an ongoing class-action lawsuit.
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Toronto Blue Jays shortstop Bo Bichette returned to the 10-day injured list Thursday due to a right middle finger fracture.
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SERVEONE Canada, a global procurement solution company, has begun Canadian operations in Tecumseh.
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The Union of B.C. Municipalities is asking the provincial government to make transit free for teenagers.
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The Red Bridge, a historic landmark in Kamloops, B.C., was completely destroyed by fire early Thursday morning.
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A Vulcan, Alta., man has been charged with a Lethbridge woman's murder after her body was found in the Oyen area.
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A new community health profile in the Algoma District shows the area is significantly below provincial averages in a number of health metrics.
North Bay Police Service says one person has died following an industrial accident at the Ontario Northland Transportation Commission Rail Yard on Tuesday.
Three northern Ontario residents are charged with drug trafficking after the vehicle they were in got stuck along a bush road off Highway 17 on Monday.
Newfoundland and Labrador's chief medical officer is monitoring the rise of whooping cough infections across the province as cases of the highly contagious disease continue to grow across Canada.
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Jim Lester鈥檚 farm hopped on the cow-cuddling trend in early August, and his time slots have been pretty well sold out ever since.
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