Embattled entertainment mogul Russell Simmons is shutting down his company All Def Digital, MTO News has learned.
All Def Digital, also known as ADD, was the digital entertainment brand founded in 2013 by hip hop entrepreneur Russell Simmons. The company produces urban music, comedy, spoken-word content, and more.
But word is that the company is planning on shutting down, as early as this week.
Insiders tell MTO News that the company had a massive round of layoffs recently. And that executives from a business advisory firm arrived at All Def Digital’s Los Angeles offices this week. Reports are that the advisory firm plans on selling off all of the companies assets, including its digital properties.
All Def Digital came under fire three years ago, when it released a skit called the Harriet Tubman Sex Tape. The skit was so offensive that Black leaders threatened to boycott the company.
Russell Simmons eventually remove the skit from their site, and apologized for the piece.