Paramount Global explores sale of BET and Sean "Diddy" Combs is looking to buy majority stake in BET. "Diddy" will be joining fellow media leaders like Tyler Perry and Byron Allen in the quest to purchase BET Media Group.
BET Media Group consist of, BET, BET+, VH1 and BET Studios. VH1 was restructured in the group last November. Paramount has not held meetings with any of the potential buyers at this point in the process.
Combs has a resilient relationship with Paramount Global from his days with MTV. He had three season of "Making the Band" fin 2002 to 2009. "Making the Band" was a big success for Diddy and the network. A source close to the music mogul shared with Variety, that "Diddy is exploring the opportunity to purchase BET as a part of his strategy to build a black-owned media house." This acquisition would help him achieve just that along with making BET Black-owned again. Which a source close to Diddy said, he thinks its "better for the business, for the culture and for building wealth in the Black Community."
The 53 year old is the owner of his own network Revolt already. If Diddy purchase BET could there be a possible merger with BET.
Photo: Getty Images
Video: BETNetworks YouTube