Almost a decade ago, Sean “P Diddy” Combs launched a cable music channel called Revolt TV. At the time, he touted it as the “first channel of the social media age.” Also, he noted that the channel will fill the gap left by MTV after it stopped playing music videos.
“I would say this journey started me for seven years ago when MTV stopped playing music and that had huge impact on the future of music,” he said, according to The Guardian. “The music started to become safe. We didn’t have the experience I had when I grew up, whether it be Led Zeppelin or Janice Joplin. There was no longer a platform for music artists to trust with their creativity.
“There was also no place that was covering music in the way that if you follow sports you go to ESPN, or like CNN with news, but with music you were just thrown into the abyss. We will cover music in a journalistic way, covering it in a way in that it has not been covered before, and we will celebrate creative and cinematography.”
Today, the musician-turned-entrepreneur is no longer in charge of Revolt TV. Diddy has reportedly sold all his shares in the company he founded with Andy Schuon in 2013.
Citing sources close to the musician, TMZ said he sold off all of his shares to an interested buyer for an undisclosed sum. Despite the sale, the platform added that the company will remain black-owned, thus upholding its original connection and dedication to furthering the culture.
“…we’re told the new boss wishes to remain anonymous for the time being. With that said, our sources say they share a deep passion for black culture … and they plan on publicly making a formal introduction in the coming weeks,” TMZ reported.
The sale of the company comes months after Diddy stepped down as the chairman of the network. His reported last order was being notified of the sale, which just went through this week.
Despite the sale, Revolt’s CEO, Detavio Samuels, and Chief Brand Officer, Deon Graham, will remain in their current positions and assist the owner. TMZ said there will not be any major changes to staffing or production for Revolt TV employees. But over time, the new owners would implement their own vision.
