Diddy Is The Latest Mogul Lining Up To Purchase BET

As some of Black media’s wealthiest line up to place their offers on BET Media Group, Diddy is now joining the bidding. 

The Bad Boy founder joins the likes of BET partner Tyler Perry and Weather Channel owner Byron Allen who have all expressed interest in acquiring the network. Perry arose as the obvious choice in recent weeks, as he has produced several projects for BET and helped launch the BET+ streaming service in 2019. With such a close working relationship already established, many believed Perry would be the only option to lead the company. However, Allen emerged as another potential buyer, having accumulated success during his reign over the Weather Channel. Now, Diddy, who founded Revolt TV in 2013, is ready to expand his media empire by adding the long-running network to his resume. Revolt TV is home to “Drink Champs” and the spiritual program “Kingdom Culture With T.D. Jakes”

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BET Media Group consists of BET, BET+, VH1, and BET’s production house, BET Studios. A source close to the “Last Night” rapper told Variety that Diddy plans to add BET to his already massive empire to “build a Black-owned global media powerhouse.” As of now, Diddy has not had formal sit-downs with Paramount, BET’s parent company. As of now, the company has reportedly not taken meetings with any of the contenders. If BET is sold, Paramount will maintain a minority stake, with the new owner assuming the majority.

Neither BET nor the potential buyers commented publicly on the possible deal.