*Sean Combs is said to be interested in acquiring a majority stake in BET amid reports that Paramount Global is exploring a potential sale of the asset which includes BET, VH1 and the BET+ streaming service.
Combs’ Revolt network launched a decade ago, through BET and VH1. He joins Tyler Perry and Byron Allen….
“Byron Allen is interested in buying BET, and he will be pursuing the acquisition of the network,” a spokesman for the Allen Media Group said in a statement, Deadline reports.
Perry is a longtime partner with BET which airs many of his shows. Meanwhile, Byron Allen’s Allen Media Group is the largest supplier of first-run syndicated programming for broadcast television stations.
READ MORE: Byron Allen and Tyler Perry in Talks to Buy BET Majority Stake
BET was founded by Robert Johnson in 1980 and was acquired by Viacom in 2001 in a deal worth $3 billion.
In related news, Combs joins an increasingly crowded field of possible buyers that includes current BET partner and producer Tyler Perry, as well as Weather Channel owner Byron Allen.
Meanwhile, we reported previously that Combs announced in February the rebranding of his parent company from Combs Enterprises to Combs Global.
The announcement marks the global expansion of his portfolio of businesses that have represented dominance across music, entertainment, fashion, spirits, and media/television. At its founding in 2013, Combs Global started with Bad Boy Entertainment, Combs Spirits (Cîroc Vodka, DeLeón Tequila), AQUAhydrate, REVOLT MEDIA, Sean John, Capital Preparatory Charter Schools, and The Sean Combs Foundation. Since then, it has expanded to include new business units and ventures such as Empower Global formally Shop Circulate, Our Fair Share, Love Records, and into Cannabis. Combs Global is entering a new chapter with a distinct vision and shows no signs of slowing down.
“Combs Global represents the next chapter in my journey as a business leader and a bigger vision to build the largest portfolio of leading Black-owned brands in the world,” said Sean “Diddy” Combs in a statement. “I’ve enlisted world-class teams of top executives, specialists, and strategic partners to bring this new dream to life and put us in the best position to keep making history while leading another 30 years of dominance across industries.”
With the launch of Combs Global, there has been a complete rebranding of the website, social channels, and brand communications, ushering in an exciting new era for the company.
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