Producer and actor Tyler Perry have expressed strong interest in picking up a major stake in the media group BET from the television network owner, Paramount. The star, entrepreneur, and producer hold a minority state at present.
Perry’s expression of interest could lead to a bidding war with Byron Allen, the media mogul based in Los Angeles also indicating that he was entering the high-stake fray. His spokesperson revealed that Allen was interested in picking up a majority stake in BET and would be moving ahead with acquiring the network.
Paramount could benefit from this duel between Allen and Tyler Perry. The entertainment major has been shedding assets to pay down debts and raise money. It also plans to invest in Paramount+, its streaming service set up a couple of years ago.
Insiders revealed that Paramount plans to hold a minority stake in BET. It includes the streaming service, BET+, and the VH1 television channel.
Entry Of Either Tyler Perry Or Allen Could Consolidate African-American Media And Culture
This union involving a Paramount company and either Allen or Tyler Perry would lead to a consolidation of major powers in Black- American media and culture.
BET has grown up into a leading cable destination for Black-themed shows in over 4 decades. Recent successful programs include Tyler Perry’s House of Payne. Tyler Perry has also established himself as a treasured actor and has exhibited an appetite for a bigger empire. He presently owns the wildly popular Madea movie franchise. He also owns a studio complex spread out over 300 acres near Atlanta.
While talks between Tyler Perry and Paramount were at an early stage, it wasn’t clear if Allen and Paramount executives had initiated discussions.
Wall Street Journal first reported on the potential sale of BET. Trade papers in Hollywood soon picked up news that Tyler Perry had evinced interest and was in talks with Paramount executives. At present he appears to be ahead in the negotiation stage.
