Staff
“The Time is now”, said Sean “Diddy” Combs of his interest in securing a majority ownership stake in BET. “Media is the most powerful industry in the world but it’s the industry where we have the least amount of ownership, influence and control!
“It’s time for @BET to be Black-owned again so we have the power to tell our own stories, control our own narrative! This is not about me it’s about WE!”
Maybe so, but Diddy might be a little late to the party.
Tyler Perry, who already has a minority ownership stake in the network has reportedly already in talks with the network about a acquiring a larger ownership role after Paramount Global (the company that owns the network) expressed that it might be open to selling a majority stake of the company valued at $2.7 billion when it was acquired in 2001.
Tyler Perry currently partners with BET in BET Plus with both being the exclusive home to many of his shows including “The Oval”, “Sistas”, “Assisted Living”, “Zatima”, and “All the Queen’s Men”.
Also interested in acquiring the network is Bryon Allen, whose growing media empire already includes the Weather Channel, TheGrio, the Black News Channel and Entertainment Studios.
“BET is a great American brand and if it becomes available, we’re very interested and we will pursue it vigorously,” Allen told theGrio. “It’s a big opportunity.
“I’m on a mission to build the world’s biggest media company. That puts us in a position to effectuate change for the greater good and to amplify the excellence that’s in our community.”
Diddy, who launched Revolt TV ten years ago, said he was building a team of leaders in the culture to pursue ownership in BET, though that team is not likely to include Perry and Allen. A fourth potential bid is also being reported from a Black-owned, Miami-based media company.