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Paramount Global Stock Jumps On Report Of Revived BET Sale Talks
Paramount Global stock jumped 6% on a report that it has resumed talking to potential buyers of BET Media.
Among the cadre of potential buyers are BET CEO Scott Mills and Chinh Chu, the former Blackstone exec who now runs New York-based private equity firm CC Capital. BET Media, which includes the flagship cable TV channel, a studio, subscription streaming outlet BET+ and an events business, has been in play over the past few years, with Paramount stating its intention to sell its majority stake to a Black buyer. Mills and Chu had previously put in a bid for BET and reportedly got the conversations going again after the Shari Redstone-controlled Paramount pulled out of a planned combination with Skydance at the 11th hour.
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