50 Cent has reacted to Paramount ending its bid to sell BET Media Group.
In May, the G-Unit mogul announced his interest in becoming a partial owner of BET, the renowned Black network presently under Paramount’s network umbrella, which also encompasses MTV, VH1, and Nickelodeon. During that period, he formed a team alongside director Kenya Barris and NBA icon Shaquille O’Neal intending to acquire the BET Media Group. The trio also secured the support of a CVC investment firm.
Nevertheless, on Friday, 50 turned to Instagram to share that he was unable to secure the network due to Paramount raising their requested price.
“We will get them next time, @shaq that shit wasn’t worth 3,000,000,000. #bransoncognac #lecheminduroi,” he wrote.
The announcement comes just shortly after Tyler Perry’s recent setback in his own endeavor to purchase the network. Paramount declined Perry’s $2 billion offer, particularly because the company had explicitly stated that the starting bid for the auction was set at $3 billion.
Despite having previously indicated its intention to proceed with the sale, Paramount formally declared its decision to cancel the sale on Wednesday.
“We made this decision because the benefits of maintaining a majority stake in BET Media Group creates more value for Paramount than any of the proposals we received,” a source close to Paramount said.
