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Paramount Reportedly in Talks to Sell BET for $1.6 Billion in Buyout Led by CEO Scott Mills
Paramount is engaged in exclusive discussions to sell BET in a deal valued at $1.6 billion-$1.7 billion to a group led by BET CEO Scott Mills.
The latest reported price tag for BET is less than half the$3.5 billion that media mogul Byron Allen extended to Paramount Global in late 2023. That came after Paramount Global earlier in the year had been exploring the sale of a majority stake in BET, with bidders said to include Allen, Tyler Perry and Sean “Diddy” Combs. In August 2023, Paramount called off the bidding process for BET because “a sale wouldn’t result in any meaningful deleveraging of its balance sheet,” according to a report by the Wall Street Journal at the time.
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