According to the Wall Street Journal, parent company Paramount Global is exploring selling its majority stake of BET Media Group, which includes BET, BET+, and VH1.
“The decision to consider selling a majority stake of the assets, which cater primarily to Black audiences, is part of the entertainment giant’s effort to shore up resources to bolster its flagship Paramount+ streaming service and its advertiser-supported free streaming platform Pluto TV,” the Wall Street Journal reported.
Variety confirmed that Perry is vying for Paramount Global’s majority share.
The media mogul and BET, which is run by CEO Scott Mills, have a long history. The network helped fund his first feature, Diary of a Mad Black Woman, in 2005.
In 2017, Perry signed a long-term film deal with Paramount+. He continued his relationship with the parent company by inking a TV deal in May 2020.
Along with his library of films, BET and BET+ house a number of Perry’s TV projects including “House of Payne,” “Sisters,” “The Oval,” “Ruthless,” “Zatima” and “Assisted Living.”
Perry, however, may not be alone in wanting to acquire BET.
According to Variety, a spokesperson for Byron Allen of the Allen Media Group said on Monday (March 6) that the mogul is also “interested in buying BET, and he will be pursuing the acquisition of the network.”
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