Diddy owns BET?! According to rumors that BET‘s current owner, Paramount Global, is considering a sale, Sean “Diddy” Combs is hoping to make a significant move in the media industry by purchasing an ownership part of the network.
Allegedly, Diddy is “exploring the opportunity to purchase BET as part of his ambition to construct a Black-owned worldwide media behemoth,” an insider close to the billionaire big dog tells Variety.
More significantly, the Bad Boy Records founder desires to make BET a Black-owned company again because he thinks it will be “better for culture, for business, and for producing wealth in the Black community.” To amplify the network, he plans to form a group of successful African American businesses and entertainers.
Diddy joins other media moguls Byron Allen and Tyler Perry, who are purportedly both interested in buying the majority of the shares of the BET Media Group. BET+ (BET’s streaming service) already has Perry as a minor shareholder.
Diddy Owns BET?! Sources Claim He May Soon…
The Wall Street Journal revealed earlier this month that BET Media Group, which is made up of the cable channels VH1 and BET and owned by Paramount Worldwide, was available for sale.
The first national television network that predominantly catered to Black viewers was BET, which Robert Johnson founded in 1980. For $2.3 billion in shares, Paramount Global, formerly Viacom, purchased BET in 2000.
Revolt, a digital cable television network that Diddy already owns and debuted in 2013, has a reach of almost 80 million households and many more online.
Diddy’s billion-dollar business, which already includes DeLeón Tequila and Cîroc, would now include this most recent acquisition.
He partnered with Motown/Universal to launch his R&B label Love Records last year. In order to become the largest Black-owned, legally operating marijuana establishment on the planet, Diddy also made investments in the cannabis sector.
Do you think Diddy will get his hands on BET? Tell us in the comments below!
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