Two of the nation’s biggest Black media moguls are in a bidding war for majority ownership of the BET television network.
Perry whose net worth is believed to be approximately $1 billion is a popular actor, director, producer and writer, best known for his Madea franchise, which has grossed more than $660 million according to Forbes magazine. Perry is also the owner of the 300-acre studios complex, Perry Studios in Atlanta.
Allen, a stand-up comedian and talk-show host founded Entertainment Studios, in 2018 purchased the Weather Channel. He is also the founder of Allen Media Group, which airs local news, weather, sports, traffic, movies and TV shows.
Allen’s net worth is approximated at $450 million although he is touted as one of the most successful under the radar media figures in the industry.
The dueling interest could benefit Paramount, which has been trying to raise money by shedding assets to pay down debt and to invest in its two-year-old streaming service, Paramount+.
Our money is on Perry who is beloved for his philanthropic works as well as his commitment to the Black community.
Join our email list to stay connected.