Tyler Perry Is Buying BET And VH1!

Tyler Perry plans on merging his studio company with BET if he purchases it.

Paramount Global is selling BET Media Group and VH1. It appears that Tyler Perry, the actor and media mogul is looking to purchase it for $3 billion. It was rumored that Shaquille O'Neal, Sean "Puffy" Combs and Byron Allen has interest in purchasing the networks.

The report mentions that Perry’s acquisition comes as Paramount is losing money. Perry’s deal is valued at an as-of-yet undisclosed amount. It will give him control over BET Media Group, which is also comprised of networks like VH1.

Since its launch, the streaming service has been massive. In 2021, BET+ accounted for half of the subscriber growth and nearly all revenue growth for the channel.

The news comes following news that Paramount Global had been seeking to sell a majority stake in BET. Earlier this year, Perry expressed optimism about buying the company, saying that if it was possible, he was “very, very interested.”

“Rumor? No, it’s not a rumor, I’ve been there for four years now and had tremendous success,” said Perry to Entertainment Online. “I wasn’t expecting this to happen, so, yes – if that is possible, I’m very, very interested in taking as much of it… If it’s possible, I’m gonna take as much of it as I can.”

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BET (Black Entertainment Television) was founded by Robert Johnson in 1980. He owned the network until 2001 when Viacom [a precursor to Paramount Global] bought the network.

BET and Tyler Perry Studios have a mutual agreement to air programming exclusively produced by him.