Deadline has confirmed that Byron Allen is once again targeting BET Media Group in a $3.5 billion bid for Paramount Global. The news comes amid talks between Warner Bros. Discovery and Paramount Global on a merger — somewhat because of the legality of the Reverse Morris Trust, which experts say won’t happen until the spring.
Earlier this year, Allen and Tyler Perry, among others, competed to buy BET, but Paramount Global took BET off the sales block.
Bloomberg first reported the news of Allen’s renewed bid for BET.
BET consists of the linear networks BET+, BET Studios, which launched in 2021 with partners Kenya Barris, Rashida Jones and Aaron Rashon Thomas, and VH1, which was brought under the BET umbrella last year.
BET (Black Entertainment Television) was founded by Robert Johnson in 1980 and was the first cable network aimed at a black audience. It was acquired by Viacom in 2001 in a deal worth $3 billion.
Representatives for Allen and Paramount Global declined to comment.
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Source: Deadline
Elizabeth Cabrera is an author and journalist who writes for The Fashion Vibes. With a talent for staying up-to-date on the latest news and trends, Elizabeth is dedicated to delivering informative and engaging articles that keep readers informed on the latest developments.
