Sean Combs, facing mounting sexual assault allegations, has sold his majority stake in Revolt, the company announced Tuesday.

“Shares held by the company’s former chair, Sean ‘Diddy’ Combs, have been fully redeemed and retired,” Revolt stated, ensuring it will remain Black-owned and operated. The company aims to empower creators and establish a new media model, allowing employees to benefit from its growth.

The New York Times first reported the development. Combs founded Revolt over a decade ago to empower Black people and share their stories. Popular video podcasts include “Drink Champs” and “Caresha Please.”

A pioneer in hip-hop, media, and fashion—creating Bad Boy music label and Sean John clothing line—Combs’ business portfolio has faced threats since being sued in November by ex-girlfriend Cassie for physical abuse and sexual assault. They settled the lawsuit on undisclosed terms, with Combs’ lawyer stating it wasn’t an admission of wrongdoing.

Sean Combs Forced to Sell Stake in Revolt Amid Legal Troubles
Diddy was one of the founders of Revolt TV, a network focused on music

Combs stepped down as chairman of Revolt in November, following multiple lawsuits. Four women and a music producer on his latest album accused him of sexual harassment, drugging, and threats. Combs denies wrongdoing, calling the allegations “sickening” and a ploy for money.

After the lawsuit, Hulu scrapped a reality TV show about Combs’ family, and he settled a lawsuit with Diageo, a liquor brand he accused of racism. In March, federal agents raided his homes in Los Angeles and Miami, confirming he was under federal investigation.

Last month, CNN obtained surveillance video corroborating an incident in Ventura’s lawsuit, showing Combs kicking, striking, and dragging her in a Los Angeles hotel. He later issued a video apology on Instagram, taking full responsibility for his actions.