There’s another potential bidder for Paramount’s BET businesses.
Music mogul Sean “Diddy” Combs is exploring the opportunity to acquire a majority stake in the business, which includes BET, VH1, BET Studios and the streaming service BET+, a source familiar with the matter confirms.
Combs joins an increasingly crowded field of possible buyers that includes current BET partner and producer Tyler Perry, as well as Weather Channel owner Byron Allen.
Last week a source told The Hollywood Reporter that Perry, who owns a minority stake in BET+ through his current overall deal with Paramount, was interested in the buyout with his deal coming up for renewal. a spokesperson for Allen later said that the mogul “is interested in buying BET, and he will be pursuing the acquisition of the network.”
Combs already has a presence on cable TV through his Revolt network, which launched a decade ago, though BET and VH1 are much more widely-distributed. Combs also, of course, is familiar with Paramount’s properties, having worked on Making the Band and other fare for its channels.
A source familiar with Paramount’s thinking previously told THR that the company would expect to maintain a business relationship with any potential buyer. Scott Mills is currently CEO of the BET businesses.
