Paramount Prepares to Sell BET

Last year media mogul Tyler Perry called Paramount's bidding process for the sale of BET disrespectful after trying to unload the network for $3 billion [click here if you missed that].

Now Paramount is parting with BET for less than $2 billion...

From Variety

Paramount Global’s trio of co-CEOs have publicly said they’ve hired bankers to evaluate the sale of certain assets. Industry speculation has swirled around BET, which has been the target of acquisition offers in the past.

Now Paramount Global is engaged in exclusive discussions to sell BET in a deal valued at $1.6 billion-$1.7 billion to “buyers that include” BET CEO Scott Mills and Chinh Chu, founder of private-equity firm CC Capital, Bloomberg reported, citing anonymous sources. The BET Media Group comprises the BET cable channel, VH1 and other networks; the BET+ streaming service; and BET Studios.