Apart from being a big name in the world of hip-hop, Sean “Diddy” Combs is also a smart businessman. Having built himself an empire worth hundreds of millions of dollars, he knows the industry inside out. Unfortunately, his riches and desire to keep going didn’t help him when he was arrested at a Manhattan hotel on September 16.
Over a month has gone by since Diddy felt the sunlight that falls on the free and there are still plenty of months to go before he can even think about stepping outside the Metropolitan Detention Center. Before his arrest though, Diddy had plans to scale his empire further with the help of fellow businessmen, Tyler Perry and Byron Allen.
Diddy Wanted a Big Chunk of BET
Diddy co-founded REVOLT in 2013, a company that specifically supports Black talent. As it celebrated its tenth anniversary, he sat down with Billboard to talk about the vision he had for his company.
He unveiled his business strategy which included turning REVOLT into a “Black-owned media conglomerate” through the means of acquisition. He was eyeing Paramount Pictures’ Black Entertainment Television (BET) and wanted a good chunk of the cable channel.
To do so, he was enlisting the help of actor and filmmaker Tyler Perry and businessman/comedian Byron Allen, the founder of Allen Media Group, formerly known as Entertainment Studios. Clearly, he had a good team set for the operation.
In the interview with Billboard, Diddy stated,
As far as our business strategy, we’re in acquisition mode to really build a Black-owned media conglomerate. That’s why we were looking at BET and at a couple of other businesses. BET is definitely the mecca, the originator of Black media, and still is. So just the thought of unifying … We’re not going to be able to reach our highest level of success in the media world, like a Rupert Murdoch, if we don’t unify. Like me, Tyler Perry and Byron Allen. We have a responsibility because it’s like 15 of us getting money, but 10 billion people in the world.
He emphasized the importance of Black artists, everyone from Issa Rae to Jada Pinkett Smith, pooling their resources.
We need to pool our resources, everybody from LeBron James and Issa Rae to Tracee Ellis Ross to Jada Pinkett [Smith] and Queen Latifah. That’s what I’m pushing for: unity in a disruptive way that’s never been done before. Having such a media platform is one of the most powerful tools in changing our trajectory.
Big plans. He had big plans to turn REVOLT into something bigger and better than anyone had ever seen before.
Why Was Diddy So Passionate About REVOLT?
Diddy’s vision for REVOLT was bigger than anyone could have thought. He wanted to make it the biggest media company possible, and he knew that he couldn’t trust anyone to do it except himself.
He stated that the entire reason his network was named REVOLT was to take their “quality of life back” and he firmly believed that the only way Black media would have a truly free outlet was if it was being controlled by people of color.
As per Diddy, his dream for REVOLT is,
To make it not just the biggest Black-owned network but the biggest media company that I can. I’m not pigeonholing myself. Again, nobody’s going to give us power, and they’re not going to share it with us. That’s why 10 years ago, I named my network REVOLT, because we have to take our quality of life back. There’s so much value and information. And when the Black media doesn’t have an outlet that’s controlled by somebody of color, then it’s not truly a Black free press. REVOLT is the only foundation right now that’s going in that direction.
He knew that a revolution like the one he had his eyes set on wouldn’t come in a day’s time. He considered himself fully capable of overturning the narrative by investing in Black’s future and breaking down barriers through the freedom of the media.
But it takes time. I own 65% of REVOLT, so we could change the narrative. I’m investing in the Black future with REVOLT. It’s not a hustle, not a money play. Everything I do is to make sure that I do my best to break down the barriers. Media is one of the most important and powerful parts of freedom.
Eventually, Paramount decided against selling the majority stake in BET. Amidst the allegations of s*xual abuse against him, Diddy took a leave of absence from the company indefinitely. Later, he sold his stake in the company to an anonymous buyer. Now, Diddy has found himself in a series of unfortunate events, including the unveiling of his alleged Freakoff parties, as he braces himself for his trial set for May 2025.
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