Paramount Global is in talks to sell its Black Entertainment Television network to a management-led investor group, according to people with knowledge of the discussions. The potential buyers include BET CEOScott Mills and Chinh Chu, a former Blackstone Inc. executive who runs New York-based CC Capital Partners, said the people who asked not to be identified because the negotiations are private. A price of a little under $2 billion has been discussed, the people said. Media mogul Byron Allen also renewed his pursuit of network.
The BET Media Group (a unit of Paramount) today promoted Tiyale Hayes to the new position of executive vice president of insights and multiplatform analytics, reporting to BET President-CEO, Scott Mills. In […]
Patricia “Ms. Pat” Williams (The Ms. Pat Show) is taking on the role of TV judge in the upcoming new series Ms. Pat Settles It, premiering Oct. 18 at 10 p.m. ET/PT to air on BET.
The entertainment conglomerate concluded a sale wouldn’t result in any meaningful deleveraging.
Tyler Perry has submitted a final takeover bid for Black Entertainment Television Group — but it falls a whopping $1 billion short of the $3 billion that owner Paramount Global has been asking. The Madea creator has offered $2 billion for BET Group — whose properties include cable channels BET and VH1 along with the BET+ streaming service — to meet Paramount’s final bidding deadline last week, according to insiders.
Media mogul Tyler Perry refuses to cough up the $3 billion-plus that Paramount is asking in an auction of Black Entertainment Television — and the fierce haggling has begun to throw a sale into doubt. Perry has been considered the frontrunner to win the auction for BET Group, whose properties include cable channels BET and VH1 along with the BET+ streaming service. But Perry is losing patience with the drawn-out process after making an offer that’s short of $3 billion — a price tag that other investors also consider to be lofty, according to a source close to the situation.
NEW YORK (AP) — The philanthropist, sports franchise executive and co-founder of Black Entertainment Television, Sheila Johnson, has a memoir scheduled for September. “Walk Through Fire” will document her rise […]
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 owner Paramount Global is exploring a sale of the asset. A source close to Combs tells Variety 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.”
Group Black, a media company in Miami run by Black executives, has expressed interest in a bid with CVC Capital Partners, a private-equity firm based in Luxembourg with more than $100 billion under management. To round out its bid, Group Black, led by Travis Montaque, the chief executive, has begun reaching out to prominent Black businesspeople and artists to team up. This follows news that Tyler Perry and Byron Allen have expressed interest in buying the Paramount network.
Paramount is exploring a potential sale of a majority stake in its BET business, which includes BET, VH1 and the BET+ streaming service. Among interested buyers are Tyler Perry, a longtime partner of BET, who is engaged in conversations to buy the stake., and Byron Allen, who controls a number of local TV stations as well as The Weather Channel and other assets via his Allen Media Group and Entertainment Studios firms. “Byron Allen is interested in buying BET, and he will be pursuing the acquisition of the network,” a rep for the mogul says.
Paramount is exploring a potential sale of a majority stake in its BET business, which includes BET, VH1, and the BET+ streaming service, a source familiar with the matter says. The source cautioned that the discussions are still in the early stages, and there is no guarantee of any transaction taking place. They added that if a deal closes, Paramount expects to maintain a minority stake in the business, as well as a commercial relationship. Scott Mills is BET’s CEO.
Paramount Global-owned brands CBS News, BET and VH1 are collaborating on a new monthly primetime newsmagazine show. America in Black will debut Sunday, Feb. 19, on BET and VH1 in the 10 p.m. hour, and it will feature a mix of original longform investigative reports, one-on-one newsmaker interviews, human interest stories and exclusive in-depth celebrity profiles.
Simone Oliver is tapped as senior vice president of digital content, while Jason Odom becomes senior vice president of digital operations.
Mills spent four years as president of BET before being elevated to CEO. He has held a variety of executive roles since joining BET in 1997.
The multi-pronged commitment seeks to apply research, data and quantifiable targets to effect societal change, starting with racial equity and mental health.
“If you are working on commercials or for HBO, Showtime, Starz, Cinemax, BET or another company that has a contract still in effect – you must keep working,” IATSE informed its members. “You will not be a scab!” (Image: HBO; IATSE; BET)
On the heels of the opening of its new studio on the Las Vegas Strip and the return of its sports betting television program Daily Wager, ESPN is expanding its sports […]
Sunday’s show, a virtual event because of the coronavirus pandemic, featured a number of highly produced, well-crafted and taped performances. The BET Awards kicked off with Black artists rapping and singing anthems about the Black experience and fighting for equal rights. Among them, DaBaby, with his face pressed against the ground as an officer’s knee crippled his neck — replicating the last moments of George Floyd’s life — rapped a verse from the Black Lives Matter remix of his hit song Rockstar.
DJ Khaled, Charlie Wilson, Chance the Rapper, Kirk Franklin, Fantasia and Melvin Crispell III are slated to perform in a special BET show that will assist people of color in […]
BET Networks and Tyler Perry Studios have set a Thursday, Sept. 19, launch date for BET+, its new SVOD platform that will feature more than 1,000 hours of premium content. It will cost viewers $9.99 a month.
Viacom plans to launch a streaming service focused on the African-American cable network called BET+. The upcoming service, which will launch in the fall, will feature original content from Tyler Perry, who will be a financial stakeholder in the service.