Diddy attends the 2022 BET Awards at Microsoft Theater

Prince Williams/ Getty Images

Diddy Looking to Buy Majority Stake in BET

  /  03.13.2023

Can’t stop, won’t stop.

Sean “Diddy” Combs is looking to make a major play in the media space and buy an ownership stake in BET amid reports that its current owner Paramount Global is exploring a sale.

A source close to Diddy tells Variety that the billionaire mogul is “exploring the opportunity to purchase BET as a part of his strategy to build a Black-owned global media powerhouse.”

Most importantly, Diddy wants to return BET 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.” He intends to create a collective of high-powered Black businesspeople and entertainers to build up the network.

Diddy joins fellow media moguls Tyler Perry and Byron Allen, who are both reportedly interested in acquiring a majority stake of BET Media Group. Perry already owns a minority stake in BET+, BET’s streaming service.

Earlier this month, the The Wall Street Journal reported that Paramount Global was interested in selling off BET Media Group, which includes the cable channels BET and VH1.

Founded in 1980 by Robert Johnson, BET was the first national programming service primarily targeting Black viewers. Paramount Global, formerly Viacom, acquired BET in 2000 for $2.3 billion in stock.

Diddy already owns digital cable television network Revolt, which he launched in 2013 and now reaches around 80 million households, with an even larger digital reach.

This would be the latest addition to his billion-dollar empire, which includes Cîroc and DeLeón Tequila. Last year, he launched his R&B label Love Records in partnership with Motown/Universal. He also invested in the cannabis industry with the goal of creating the largest Black-owned and licensed cannabis company in the world.


New Drake Diss Track Aimed At Kendrick Lamar, Future And More Leaks Online

The internet has surfaced a new Drake record that appears to be a diss track ...

Fans React To J. Cole Making An Appearance On Metro Boomin And Future's 'WE STILL DON'T TRUST YOU'

After being dissed by Kendrick Lamar on Metro Boomin and Future’s previous album, J. Cole’s ...

Lil Uzi Vert Shares A Special Secret With Fans At Coachella

Lil Uzi Vert is the talk of the internet following their dynamic set during the ...

Rick Ross Performs In A Drake Hoodie Following His New Diss Track, "Champagne Moments"

Fans on social media are puzzled after Rick Ross was seen performing in a Drake ...
View More

Sponsored Stories