Fox Soul’s Black Report covers the latest news including Diddy in the talks with B.E.T. for a majority stake ownership.
The bidding war for BET Media Group is heating up. On March 6, news broke that Paramount Global is looking to sell its majority stake in the company that includes BET and VH-1. As previously reported by The Root, media mogul Byron Allen and filmmaker Tyler Perry are both interested in purchasing the stake. Now another entertainment giant is making his presence known. Variety is reporting that Sean “Diddy” Combs is “exploring the opportunity to purchase BET as a part of his strategy to build a Black-owned global media powerhouse.” The outlet adds “that while Combs has expressed interest in acquiring BET, he is not yet considered to be in talks with Paramount.” Apparently, Paramount has not begun talks with anyone.
Diddy has been hands-on in the industry since he began his award-winning career in the ’90s. He’s played a monumental role in launching artists like Mariah Carey, Mary J. Blige, Boyz II Men and more. In 2013, his business acumen saw new heights when he launched multi-platform media company REVOLT. The network reaches more than 80 million homes, and boasts 12 million monthly digital visitors and 18 million social media followers, along with a fast-growing streaming business. Millions tune in globally to view the network’s wide selection of original programming, such as “REVOLT Black News,” “Drink Champs,” “Kingdom Culture With T.D. Jakes” and “Caresha Please.” Diddy’s track record in producing successful TV and growing a prosperous media and entertainment platform is already proven — and a REVOLT and BET link-up would be historic.
