Actor and producer Tyler Perry is interested in buying a majority stake in BET Media Group from Paramount Global.
According
to sources, Paramount is considering selling a majority stake in BET as
part of a broader strategy to sell Paramount in pieces.
- BET Media Group owns the BET cable network and studio, VH1, and the streaming service BET+.
- Perry already owns a minority stake in BET+.
- BET Media generated about $1.5B in total revenue in 2022.
- Paramount also owns CBS, MTV, Nickelodeon, Paramount Pictures, and the streaming platform Paramount+.
- BET was founded in 1980 by Robert Johnson and was the first national programming service primarily targeting Black viewers.
- Viacom, now Paramount Global, acquired BET in 2000 for $2.3B in stock and assumed the company’s $570M debt.
