Some heavyweights have moved to buy BET and its other related entities.
Unnamed sources told TMZ that Shaquille O’Neal, 50 Cent, and Kenya Barris have teamed up to try to buy the network.
The trio joins Tyler Perry, Byron Allen, Diddy, and several others, seeking to purchase a majority stake in BET Media Group.
The Group owns the BET cable network and studio, VH1, and the streaming service BET+.
Proceeds from the acquisition would help Paramount build its streaming service Paramount+ and its free, ad-supported streaming service Pluto TV, the Atlanta Journal-Constitution reported.
It’s unclear how close Paramount is in terms of a sale, and there have been no disclosures of who among the suitors are closest to buying. BET was created initially by Black businessman Robert Johnson in 1980. He and his partners sold it to Viacom in 2001 for $3 billion.
Shaq, 50, and Barris all have major TV and film connections.
O’Neal has acted in and produced movies over the years and currently works on TNT’s “Inside the NBA.”
50 Cent, whose real name is Curtis James Jackson III, has produced multiple successful shows, including “Power” and “BMF.”
Kenya Barris is the creator of” Black-ish” and wrote for sitcoms “The Game” and “Girlfriends.”
According to TMZ, the men have financial help from CVC Capital Partners, a private equity group. This deal is likely linked with Group Black, a media company in Miami run by Black executives.
