According to recent reports, the well-known producer and actor Tyler Perry is in discussions with Paramount Global, the company that currently owns Black Entertainment Television (BET), to purchase a majority stake in the company. Paramount Global is looking for a substantial partner to invest in the network. Another media mogul based in Los Angeles named Byron Allen has shown interest in purchasing BET, and he plans to do so.
It is possible that Paramount would benefit from the potential acquisition, as the company is looking to sell assets in order to pay down its debts and invest in its streaming service, Paramount+. It has been brought to our attention that Paramount is considering making a bid to acquire a portion of the BET Media Group. This bid would include the BET+ streaming service as well as the VH1 television channel.
If completed, the acquisition would bring together prominent African American players in media and culture. BET has been the cable destination of choice for Black-themed shows for over 40 years, so this would be a natural fit for the network. The success of Tyler Perry’s shows on the network, such as “Tyler Perry’s House of Payne,” is well-documented.
Representatives for Perry and Paramount have both declined to comment on the matter, but it has been reported that preliminary conversations have taken place with Perry. It is not entirely clear whether Allen and Paramount have begun talking to one another.
The sale of BET comes at a time when legacy media companies like Paramount are struggling to adapt to the rise of streaming media while simultaneously reducing their reliance on traditional linear TV channels.