Diddy Reportedly Looking To Buy Majority Stake In BET as Paramount Global Explores Sale

It has been reported that Sean ‘Diddy’ Combs, 53, is interested in buying a majority stake in BET.

Variety reports that the music mogul is “exploring the opportunity to purchase BET as a part of his strategy to build a Black-owned global media powerhouse”. It was revealed that his dream is to see BET return to Black ownership.

Another source familiar with the situation tells Variety, that while Combs has expressed interest in acquiring BET, he is not yet considered to be in talks with Paramount. Paramount is reportedly not in talks with anyone at the moment. However, many individuals have expressed interest in purchasing the stake.

This news comes days after businessmen Tyler Perry and Byron Allen expressed interest in purchasing the stake. Whoever successfully proceeds with the deal will have a majority stake in BET Media, which includes BET, BET+, VH1, and BET Studios.

Diddy, a successful rapper, actor, and record producer has many business ventures that he has founded. He has expanded beyond music and has businesses in areas including film, television production, fashion, spirits, and marijuana. Combs already has a presence on cable TV through his Revolt network, which was founded in 2013. According to Revolt, “Millions tune in globally to view the network’s wide selection of original programmings, such as “REVOLT Black News,” “Drink Champs,” and “Kingdom Culture With T.D. Jakes” and “Caresha Please.”.

Diddy has already done business with Paramount in the past. Between 2002 and 2009 he produced the show, “Making The Band” with MTV. This show was a major success for the network.

Diddy has not given any comment regarding the potential deal. We will keep you all updated as more information is released.