Diddy, the rap mogul, has joined Tyler Perry and Byron Allen in expressing interest in purchasing Black Entertainment Television (BET)
The action comes amid rumours that Paramount Worldwide is planning to sell the company.
According to “sources” close to the Bad Boy entrepreneur, he’s “exploring the chance to purchase BET as part of his ambition to construct a Black-owned worldwide media behemoth,” Variety claimed on Monday (March 13).
Another source said that he isn’t yet in talks with Paramount about it, while the firm isn’t allegedly in talks with anyone, including the two other people who indicated interest in the sale, Tyler Perry and Byron Allen.
Diddy already owns the REVOLT network, a 2013 multimedia corporation that creates television and internet long-form programming. The channel currently reaches 80 million households and features 42 shows, including Yung Miami’s Caresha Please, N.O.R.E.’s Drink Champions, and Jim Jones’ Weather Report.
According to the report, Diddy is most interested in BET’s return to being a Black-owned brand, which he believes is “better for the business, for the culture and for building wealth in the Black community.”
Tyler Perry currently owns a minority stake in BET, and has also had a longstanding relationship with the network. According to The Wall Street Journal, the sale is reportedly being made in an effort to put more resources into Paramount+ and Pluto TV.