Paramount Global Looks to Sell Majority Stake in BET – and Tyler Perry May Be Interested

BET Logo and Tyler Perry (Credit: BET/Shutterstock)

Change may be on the horizon at BET after multiple reports surfaced Monday saying Paramount Global is looking to sell its majority stake in the brand.

The potential deal would include the BET Media Group, which counts BET, BET+, BET Her, BET Studios (the production arm of BET), BET Digital and VH1 among its properties. As previously reported, VH1 was transferred to the BET Media Group in 2022.

The Wall Street Journal, which was the first outlet to report on the potential sale, said talks to buy BET Media Group are in the early stages.

According to the report, Paramount Global wants to maintain a minority stake in order to continue a commercial relationship with the BET properties.

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BET Media Group, which offers programming catering to Black audiences, is run by BET CEO Scott Mills.

After news of a potential sale surfaced Monday afternoon, sources told The Hollywood Reporter that Tyler Perry is already in talks to purchase the majority stake.

Perry’s comedy Sistas airs on BET. He also has a financial stake in the subscription-based BET+ streaming service, which launched in 2019. The platform airs many of his shows, including The Oval, Bruh, and All the Queen’s Men.

Meanwhile, Kenya Barris and Rashida Jones are stakeholders in BET Studios.

Reports also surfaced saying Byron Allen is interested in buying BET Media Group.

BET was founded in 1980 by Bob Johnson and his wife Sheila Johnson. Paramount, then known as Viacom, acquired BET in 2001 for a reported $2.3 billion.

Selling off part of BET Media Group would provide Paramount Global with cash to invest in programming for its Paramount+ streaming platform and the company’s free Pluto TV streaming service.

Paramount Global also owns CBS, MTV, Nickelodeon, Showtime, and Paramount Pictures.

The company announced in January it was combining Showtime and Paramount+, with the properties being rebranded as “Paramount+ With Showtime.”

According to CNBC, Paramount Global reported its streaming business lost $575 million last quarter.