Paramount may soon finalize the sell of its powerhouse conglomerate Black Entertainment Television (BET). Despite prior inquirers from Hollywood billionaires, the new potential buyer is a reportedly a management-led investor group, as reported by Bloomberg on Wednesday.
The report stated that potential buyers include BET Chief Executive Officer Scott Mills and Chinh Chu, a former Blackstone executive who runs New York-based CC Capital Partners, with discussions of a “price tag a little under $2 billion.”
Chu is a serial investor with multiple “special-purpose acquisition companies,” one of which merged with the photo archive Getty Images Holdings Inc just last year.
The news comes after stars like Shaquille O’Neal, 50 Cent, and Kenya Barris previously showed interest in purchasing the network. World-renowned filmmaker Tyler Perry seemed to come closest to striking a deal, but later revealed his opinion on why the purchase did not go through.
“I was disappointed about it for a number of reasons,” detailed the 54-year-old during a Bloomberg Equality Summit in Atlanta on Wednesday (Oct. 18), Vibe.com wrote, “The way it happened was disrespectful in a lot of ways…Don’t try to get me to pay for something that’s not worth anywhere near the value.”
See: Paramount Global No Longer Selling BET Majority Stake
Both Paramount Global (formally ViacomCBS) and CC Capital investment group have neither confirmed nor denied the reports.
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