Paramount Global Exploring Sale Of Majority Stake In BET

Paramount Global is in early exploratory talks to sell a majority stake in BET Media.

The company has been pretty clear about its desire to explore opportunities to raise cash, including an attempt to sell publisher Simon & Shuster.

It’s move with BET Media was first reported in the Wall Street Journal. The company declined to comment.

The division includes the BET linear networks, BET+ (a venture with Tyler Perry), BET Studios, launched several years ago with partners Kenya Barris and Rashida Jones, and VHI, which was moved under the BET umbrella last year.  

A person familiar with the situation said Paramount would maintain a minority stake as well as commercial agreements with BET for content across its platforms.

Given BET’s iconic status within Black culture and the Black creative community, it could potentially see interest from high net worth individuals or minority-owned institutions.

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