Now Paramount has pulled the plug on the sale...
After at least five months of deliberations, Paramount Global has decided against selling a majority stake in its BET Media Group, The Hollywood Reporter has confirmed.
During Paramount’s latest earnings call Aug. 7, CEO Bob Bakish was asked about the status of the potential sale and didn’t address BET by name, but replied: “We’re always looking for ways to maximize shareholder value. And as we said before, that might involve divesting, acquiring or potentially partnering on assets, all of which we’ve done. But other than that, I’m not going to comment on anything specifically.”
The company has owned BET since 2000, when the Sumner Redstone-led firm then named Viacom snapped up Black Entertainment Television for $2.3 billion in stock and $570 million in debt. At the time, the BET channel was carried in 62.4 million households domestically.
13 comments:
Basically they're saying..."We don't want any nï99ër§ buying it.....WE Gon keep the culture 'a l i v e'
Black people UNITED is a power that can't be stopped. Them white folks got scared when they saw black millionaires/billionaires collaborating to by and own BET. Truth be told those white folks at Paramount were testing the waters to see what fish they could catch. I'm sure they made a list of all the black people that put in bid. These crackers don't play fair.
Well, at least it won't be a Medea channel. There is that.
It’s already a Madea channel.
Yt holding BET hostage.
They used black people to destroy each other. Once Tyler Perry's big mouth blabbed to the world that he was going to buy BET, then they used other black people with claims of wanting to make a bid too, which then increased the value of the network. The price of the network skyrocketed. Tyler decided it was not worth the cost and I don't blame him, but I hope he remembers who participated in the BS. Next time keep your money moves to yourself until you close on the deal. You got played Tyler but God will have the last say. Keep trusting him.
God forbid black people make money off their own culture. @white fatigue
Create your own network you Black Billionaires
Yt at the end of his rope.
I stopped watching BET ten years ago.
Should’ve never sold it to yt. Now it’s their crown jewel.
@3:23 PM Damn straight! Buy golf courses, TV networks, ETC., ETC., ETC., ETC.!!! Every damn thing!!!
We haven’t bought these things because they won’t let us. They don’t want our money! They want us to host talk shows, make music, be clowns in their movies and continue to entertain them.
YT has owned BET ever since Johnson sold it to Viacom more than 20 years ago.
YT people watch BET to see what ideas they can steal from us.
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