Diddy shares his view of interest in acquiring BET

Diddy shares his view of interest in acquiring BET

  • Post category:people

Sean “Diddy” Combs calls for “BET” to be “black owned” again.

The Bad Boy boss is entering the race to buy BET, joining fellow media moguls Tyler Perry and Byron Allen as they vie for a majority stake in BET Media Group as owner Paramount Global plans to sell the asset.

Paramount’s network brands include sub-media houses like BET, BET+ and VH1 – which moved under the group as part of Paramount’s restructuring last year – and BET’s production arm, BET Studio. The “Made” actor shared his vision for the purchase and explained why he threw his hat in the rain for the company.

Diddy wants ‘BET’ to be ‘black owned’ again

On Wednesday, the record producer shared a snapshot of his tweets on Instagram. The message announced his decision and the reasons for exploring the purchase. The words in the photo read:

“The media is the most powerful industry in the world, but it is the industry where we have the least ownership, influence and control! It’s time for @BET to be black owned again so we have the power to tell our own stories, to control our own narrative! It’s not about me, it’s about US!!!!”

Diddy at the 2022 BET Awards

Concluding the article, Diddy acknowledged that he was “building a team of culture leaders to pursue ownership” of media properties. “We must combine our power and our resources to create real change! #THETIMEISNOW,” he added. In the caption, the owner of “Revolt” wrote:

“It’s always baffled me how we as Black people never unified our super power to do business together and that has to stop. The only way for us to progress and rise is through unity!! It’s not about me, it’s about us. The goal is bigger than the moment!

Many of his supporters were sold on the idea; some even suggested the different shows he should bring once the sale is finalized. This fan wrote, “Unity is KEY! We need to understand its power.

Another user wrote: “Black people must own Black Entertainment (Television) 💯.” A third commenter said, “Bring back Rap City, Video Soul, Planet Groove and 106 & Park,” while a fourth fan suggested, “Midnight Love.”

As mentioned, the record executive is facing some big knocks for the ownership of Black Entertainment Television. the explosion noted that the rapper is ready to move on and is “exploring the opportunity to buy BET as part of its strategy to build a global black-owned media powerhouse.”

Tyler Perry said he was interested in buying conglomerate BET earlier this month, but has yet to elaborate on the process. Perry had a deal to create shows for Paramount and also owns a minority stake in Paramount’s BET+ streaming service.

Diddy shares his view of the interest in acquiring BET:
Instagram | Didi

The other power expressing deep interest is media mogul Byron Allen. He is a comedian and producer. Also, he owns his own media company called Entertainment Studios (Allen Media Group).

A spokesperson for Allen Media Group sent a statement detailing Allen’s interest and intentions for the future purchase. It read, “Byron Allen is interested in buying BET, and he will pursue the acquisition of the network.”

The BET Awards announced Diddy as the winner in 2022

Over the course of his decade-long career, the “Can’t Nobody Hold Me Down” rapper has won multiple accolades for his contributions to the entertainment industry, including three Grammys and a few BET Awards.

Last June, he added BET’s Lifetime Achievement Award to his collection, joining Queen Latifah, Mary J. Blige, New Edition, Anita Baker, Lionel Richie, Whitney Houston, Samuel L. Jackson and Prince.

At the time, The Blast noted that BET CEO Scott Mills released a statement detailing why the prominent songwriter deserved the accolade. He shared, “Diddy has always been a pioneering force in our community, breaking down barriers, reaching unprecedented heights, blazing new trails, and in doing so, raising the bar for us all.”

Mills added, “His virtuosity is matched only by his range – from music to media, culture, business and philanthropy – Diddy exemplified black excellence.” The CEO expressed the company’s joy at using one of its “greatest stages” to recognize the music producer’s “extraordinary achievements”.