Rapper and entertainment mogul Diddy has joined Tyler Perry and Byron Allen to express interest in buying Black Entertainment Television (BET).
The action comes amid rumors that Paramount Global is trying to sell the business.
Variety reported on Monday, March 13, that “sources” close to the Bad Boy mogul say he’s “exploring the opportunity to purchase BET.
The source says it is part of his strategy to build a black-owned global media powerhouse”.
However, another source added he was not yet in talks with Paramount about it.
Though the company reportedly isn’t in talks with anyone yet. This includes the two others who expressed interest in the sale, Tyler Perry and Byron Allen.
The multi-media firm REVOLT network, which creates television and online long-form shows, is already owned by Diddy.
The channel now has 42 shows available, including Caresha Please by Yung Miami, Drink Champions by N.O.R.E., and Weather Report by Jim Jones.
It covers 80 million households.
Diddy is reportedly most concerned about BET’s return to being a black-owned company because he thinks it will be “better for the business, for the culture, and for creating wealth in the black community.”
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BET currently has a minority investment owned by Tyler Perry, who has a history of working with the network.
The deal, according to The Wall Street Journal, is purportedly being made to increase funding for Pluto TV and Paramount+.
