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Diddy Eyeing BET Majority Stake Amidst Paramount Global’s Sell-Off

March 14, 2023 | By Kali Girl

Sean “Diddy” Combs has thrown his hat in the ring to acquire a controlling stake of BET Media Group, joining fellow media powerhouses Tyler Perry and Byron Allen in the race to purchase the media company.

According to Variety, a source close to Diddy said the entrepreneur is “exploring the opportunity to purchase BET as a part of his strategy to build a Black-owned global media powerhouse.”

According to another source, Variety reported, although Combs has shown interest in acquiring BET, he is not currently in discussions with Paramount regarding the purchase of a controlling stake. The insider further revealed that, as of now, Paramount has not engaged in discussions with any potential buyers, although numerous parties have expressed their interest.

Combs is already the owner of Revolt, which he launched in 2013, and has a connection with Paramount Global, stretching back to his MTV days. “Making the Band” from 2002 to 2009.

If Combs were to acquire BET, this move would expand BET’s audience outreach to include Revolt’s younger and more diverse audience. Currently, Revolt has a reported 12 million monthly digital visitors and an impressive 18 million social followers.

Paramount Global declined Variety‘s request for comment.

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