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.