The move to take down the “for sale” sign follows publicly expressed interest from the likes of Tyler Perry, Byron Allen and others in acquiring the brand.
Perry is already in business with Paramount via a multiyear content partnership struck in 2019, while Allen has been aiming to expand his TV station empire that counts The Weather Channel and Combs has a TV presence with his Revolt network.
The company has owned BET since 2000, when the Sumner Redstone-led firm then named Viacom snapped up Black Entertainment Television for $2.3 billion in stock and $570 million in debt. At the time, the BET channel was carried in 62.4 million households domestically. Earlier this month, the company struck a $1.62 billion deal with private equity giant KKR to sell off major book publisher Simon & Schuster. That sale followed Paramount selling tech site CNET for $500 million in 2020, CBS’ New York BlackRock headquarters building for $760 million and CBS’ Studio City lot for $1.85 billion in 2021.
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