As reported by Page Six Tuesday, an ex-Revolt employee—self-described as a "young, educated black woman"—sent a letter to the network's board in which she also alleged that Roma Khanna had referred to Meek Mill as "black boy" during a brainstorming session. Furthermore, the letter alleged, 99 percent of the 30 percent of Revolt workers recently laid off were African-American. According to Diddy, however, these reports are inaccurate.

"Revolt is led by a woman of color who is expected to uphold the same standards that I hold for all of my companies," he told TMZ. "After an extensive review led by outside counsel there were no findings of deliberate misconduct." As for the 99 percent claim, Diddy affirmed his company's commitment to diversity. "We are 67 percent ethnically diverse, with more than 60 percent of the senior leadership being women," he said, adding that any suggestion otherwise is "absurd and offensive."

Last month, another of Diddy's potential ventures—owning an NFL team—made headlines when the Bad Boy boss revealed he was no longer interested in the pursuit. "I don't want to be associated with oppressing black men," he told Big Boy. "I don't want to be associated with telling grown ass men what they can and can't do . . . Because I'm such an NFL fan, and I hope they do what they have to do to fix it, and I hope they re-engage my dream to want to do that."