ENTERTAINMENT
Paramount rejected $2b offer for BET from Tyler Perry.
The filmmaker’s dream of owning BET failed to see the light of day after his offer was rejected by the owners of BET, Paramount.
It was reported that Paramount , the company that owns Black network, along with Nickelodeon, MTV, VH1, and other networks had no interest in the $2b offer since it was no where near their target of $3b.
The opening auction for BET was $3b and to them they are not accepting anything less.
They later went ahead to state that they no more have no plans of selling BET contrary to their original intent.
“We made this decision because the benefits of maintaining a majority stake in BET Media Group creates more value for Paramount than any of the proposals we received”.
The source noted that Paramount had been looking for a deal “which could return the asset to Black ownership” with a “party that could be a good partner and responsible steward of the assets and the mission” — but nevertheless came up short.
The company had been pushing Perry, who already owns a 25% stake in BET’s streaming service, BET+, to increase his offer.
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