When Paramount began talks about selling a majority stake in Black Entertainment Television (BET), several black celebrities, including Tyler Perry, expressed interest in owning a portion of the network.
His series such as “Sistas,” “The Oval,” and “House of Payne” have all shown on the station. If he bought BET, he would gain control of the network that broadcasts his shows.
Perry’s motivation for purchasing the station is to return it to black ownership. In April, he told ET, “I think there was sadness when Bob sold it, and I think there’ll be happiness when it’s Black-owned again. Even though Shari (Redstone) and what is it? Viacom and Paramount? They’ve done a phenomenal job with it.”
“They didn’t let it fall by the wayside; they didn’t let it go into dust. They nurtured it and took care of it, and to see Shari at this position saying, ‘I think it should be returned to a Black owner?’ I figured, ‘OK, see, that’s my kind of person.’”
Despite receiving bids ranging from $2 billion to $3 billion, Paramount later announced that it would no longer sell a majority stake in BET Media Group, which includes the BET channel, BET+, VH1, and BET Studios.
Perry recently expressed his dissatisfaction with the bidding process at a Bloomberg symposium held at The Gathering Spot in Atlanta.
“I was disappointed about it for a number of reasons,” the business mogul expressed, according to The Atlanta Journal-Constitution. “The way it happened was disrespectful in a lot of ways.” Without going into too much detail, he added, “Don’t try to get me to pay for something that’s not worth anywhere near the value.”
When asked if he would be interested in owning BET if Paramount placed it up for sale again, he said no.
Despite his dissatisfaction with the botched acquisition, Perry remains a minority stakeholder in BET+ and maintains a working connection with the network. “God bless them. I’m still working with them. I wish them the best,” The Atlanta Journal-Constitution quoted him as saying.