Sean “Diddy” Combs is entering the race to buy BET, joining fellow media moguls Tyler Perry and Byron Allen as they vie to purchase a majority stake of BET Media Group amid reports that…
as they vie to purchase a majority stake of BET Media Group amid reports that owner Paramount Global is exploring a sale of the asset,Run by CEO Scott Mills, BET Media Group includes BET, BET+, VH1 and BET’s production arm, BET Studios.that the global music icon and record executive turned multi-industry entrepreneur is “exploring the opportunity to purchase BET as a part of his strategy to build a Black-owned global media powerhouse.
Combs also has a longstanding relationship with Paramount Global, dating back to his days with MTV, where he produced three iterations of “Making the Band” between 2002 and 2009, which were a major success for the network. According to The Wall Street Journal, which first reported Paramount Global is interested in selling off BET in an article published last Monday, “The decision to consider selling a majority stake of the assets, which cater primarily to Black audiences, is part of the entertainment giant’s effort to shore up resources to bolster its flagship Paramount+ streaming service and its advertiser-supported free streaming platform Pluto TV, some of the people said.
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