Diddy and Tyler Perry enter into race to buy BET network

Diddy, a rapper and businessman in the entertainment industry, has joined Byron Allen and Tyler Perry in expressing interest in purchasing Black Entertainment Television (BET)

The action coincides with rumors that Paramount Global is trying to sell the business.

According to “sources” close to the Bad Boy entrepreneur, who is “exploring the chance to purchase BET as part of his ambition to construct a Black-owned worldwide media behemoth,” Variety claimed on Monday (March 13).

Another source clarified, however, that he has not yet spoken to Paramount about the matter. According to the corporation, this includes the other two parties who have expressed interest in the sale, Tyler Perry and Byron Allen.

Diddy already owns the REVOLT network, a multimedia company launched in 2013 that produces television and digital long-form series. The channel currently reaches 80 million households and has 42 programs on their slate, including Yung Miami’s Caresha Please, N.O.R.E’s Drink Champs and Jim Jones’ Weather Report.

According to the report, Diddy is most interested in BET’s return to being a Black-owned brand, which he believes is “better for the business, for the culture and for building wealth in the Black community.”

Tyler Perry currently owns a minority stake in BET, and has also had a longstanding relationship with the network. According to The Wall Street Journal, the sale is reportedly being made in an effort to put more resources into Paramount+ and Pluto TV.


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