Tyler Perry May Purchase Majority Stake in BET From Paramount Global

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BET Awards, Show, Microsoft Theater, Los Angeles, USA - 23 Jun 2019

Source: Variety / Getty

Tyler Perry is having conversations with Paramount Global about the purchase of a majority stake in BET Media Group.

Perry, 53, already owns a minority stake in the company. He has a long history with both BET and Paramount, which could help with the purchasing process should the two sides decide to move forward. Both companies have played significant roles in Perry’s entertainment career, with BET helping to fund Perry’s ‘Diary of a Mad Black Woman’ nearly 20 years ago.

Paramount, like most TV entertainment companies, has been making a lot of moves lately. If they move forward with Perry it could help in their desire to continue the rebrand of Paramount + and Pluto TV, the ad-supported streaming service that also falls within the Paramount umbrella.

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From Variety:

Earlier this year, Paramount announced it would be rebranding both Showtime’s linear and streaming platforms as Paramount+ With Showtime, folding the iconic brand into its priority streamer Paramount+. The move has already led to significant leadership changes and layoffs across the company.

Representatives for Paramount Global and Perry did not immediately respond to request for comment.

To finish the report from Variety, [click here].