Sean “Diddy” Combs joins the rising checklist of these rumored to be drawn to buying a majority stake in Paramount’s BET agencies.
Among the rising checklist of possible traders for Paramount’s BET agencies — which embody BET, VH1, BET Studios, and streaming carrier BET+ — Sean “Diddy” Combs is tossing his hat into the ring, a source accustomed to the matter tells The Hollywood Reporter.
Other eager events embody contemporary BET producer and minority stake owner Tyler Perry and Weather Channel owner Byron Allen. Scott Mills serves as BET’s CEO.
Combs has labored with Paramount properties earlier than, having labored on Making the Band and other yell for its channels in the previous. He already enjoys a presence on cable TV by his Stand up network, however BET and VH1 are essential more broadly-disbursed.
Quiet, as a contemporary BET accomplice and shareholder by his contemporary take care of Paramount, Tyler Perry will most doubtless be the presumably candidate for the buyout, especially as his contract will soon be up for renewal. Perry’s settlement with Paramount started in 2017. With his deal nearing its renegotiation, buying BET would give him ownership of the network that already airs many of his presentations and yell.
Meanwhile, a spokesperson for Byron Allen has acknowledged that the network is “drawn to buying BET, and he will doubtless be pursuing the acquisition of the network.” Allen controls several native TV stations besides to The Weather Channel and other sources by his Entertainment Studios firm. A BET acquisition for Allen would point out a ramification of his already broadly-disbursed cable business, besides but every other streaming carrier.
Sources shut to Paramount bear acknowledged that if a deal closes, Paramount expects to preserve a business relationship with the shopper and a minority stake in the BET agencies. This form of deal would present Paramount with the money to continue building out its Paramount+ streaming carrier, its major focal point.