thewrap.com
14.03.2023 / 00:23
Diddy Looking to Nab Majority Stake in BET as Paramount Global Puts Network Up for Potential Sale
Sean “Diddy” Combs has just joined the potential purchase party of Black Entertainment Television (BET), with the mogul setting his sights on majority stake, TheWrap has confirmed.A source close to Combs says the Grammy award-winning musician and record label executive is “exploring the opportunity to purchase BET as a part of his strategy to build a Black-owned global media powerhouse,” Variety was the first to report. The source added that conversations around Diddy buying majority stake in the network has yet to happen. Diddy is the latest to take interest in the acquisitions of the network, following behind Tyler Perry, Byron Allen and Miami-based media company Group Black, which was founded by Richelieu Dennis, Bonin Bough, and its CEO Travis Montaque. Under the umbrella of BET Media Group lies brands BET, BET+, BET Studios and VH1, which was to the group from Paramount Media Networks in a restructuring rearrangement. This would be another lucrative entrepreneurial business move for Diddy, who founded media company Revolt in 2013.