Tyler Perry may acquire majority stake in BET

Atlanta media magnate Tyler Perry might acquire a majority stake of BET Media Group from Paramount Global, a spokesperson confirmed to Atlanta Busi...

March 8, 2023
8:18 AM

Atlanta media magnate Tyler Perry might acquire a majority stake of BET Media Group from Paramount Global, a spokesperson confirmed to Atlanta Business Chronicle. Paramount has been considering selling the majority stake in BET Media Group, which includes the cable channels BET and VH1. The move would likely be part of an effort to bolster resources for its signature Paramount+ in order to compete with other streaming services such as Disney+ (NYSE: DIS) and Netflix Inc. (Nasdaq: NFLX). The story was first reported by the Wall Street Journal.

Zach Armstrong