You read that right. The media mogul and billionaire Tyler Perry is reportedly close to buying the BET Media Group from Paramount Global, which includes the popular cable network BET, its sister channel VH1, and the streaming service BET+. This would give Perry complete control over the production and distribution of some of the most popular Black-themed shows and movies in the industry. Perry has been in talks with Paramount since March 2023, when it was revealed that the company was looking to sell a majority stake in BET to raise money for its streaming service Paramount. Perry owns a minority stake in BET Media Group as part of his deal with Paramount that pays him $150 million per year for content production. He also has a joint venture with Paramount Streaming for BET+, which features some of his hit shows like “The Oval”, “Sistas”, “Bruh”, and “Ruthless” Perry is not the only one interested in buying BET. Other potential suitors include comedian and media mogul Byron Allen, rapper and entrepreneur Sean “Diddy” Combs, and media company Group Black. However, Perry seems to have the

upper hand as he has a long-standing relationship with BET and its audience. He also has a massive studio complex in Atlanta, where he produces most of his content. Perry has expressed his admiration for BET and its founder Robert L. Johnson, who launched the network in 1980 as the first Black-owned cable channel. He credited Johnson for keeping BET relevant and successful over the years, despite the challenges and competition in the media landscape. He also said that he was very interested in taking as much of BET as he could. If Perry finalizes the deal, he would add another feather to his cap as one of the most influential and powerful figures in Hollywood. He would also have more creative freedom and leverage to produce and distribute more content for Black audiences across different platforms. Perry has already made history as the first African American to own a major film studio outright, and as one of the wealthiest celebrities in the world. Fans of Perry and BET can expect more announcements soon as the deal is expected to be completed in the coming weeks.