Paramount Global has pulled out of a deal to sell BET Media Group to renowned filmmaker Tyler Perry.
According to The Wall Street Journal, Paramount announced that they had ended the bidding process, which would have included VH1 and BET Studios, streamer BET+ and the BET channel —because “a sale wouldn’t result in any meaningful deleveraging of its balance sheet.”Perry’s potential ownership would have made BET Black-owned again after 21 years, while VH1, for the first time, would have boasted an African American owner for the first time.
The renowned actor and filmmaker previously expressed optimism about purchasing BET, stating his keen interest if it were a possibility. The exact financial details of the deal have not been disclosed, but experts on this sort of transaction have placed a significant value on the acquisition of the two networks.In 2021 alone, BET+ was responsible for half of the subscribers and nearly all revenue growth for the channel.
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Paramount scraps $3B auction of BET as Tyler Perry’s offer comes in lowThe company quietly notified bidders late Wednesday, a source said.
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Paramount decides it won't sell majority stake in BET Media Group, source tells APBET won’t be sold after all: Paramount Global decided against selling the majority stake of the network.
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Paramount Decides Against Selling BET Majority StakeThe 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.
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Paramount decides it won’t sell majority stake in BET Media Group, source tells APBET won’t be sold after all: Paramount Global decided against selling the majority stake of the network.
Weiterlesen »
Paramount decides it won't sell majority stake in BET Media Group, source tells APBET won’t be sold after all: Paramount Global decided against selling the majority stake of the network.
Weiterlesen »