Paramount Global has reportedly decided to once again put BET (Black Entertainment Television) up for sale, with an asking price ranging between $1.6 billion to $1.7 billion. This exclusive offer is said to be extended to potential buyers that include BET CEO Scott Mills and other interested parties.
Mills, who has been with BET since 1997, initially as senior VP of business development, has held various key roles within the company before assuming the CEO position in 2021. He has overseen significant initiatives such as the launch of BET’s official website and the management of its Centric channel.
Historically, figures like Tyler Perry, Sean “Diddy” Combs, and Byron Allen have expressed interest in acquiring BET. Allen notably offered $3.5 billion for the network in 2023.
Despite previous attempts to sell, Paramount withdrew BET from the market in August of the preceding year, citing concerns that a sale wouldn’t significantly improve its financial position. Paramount believed that maintaining a majority stake in BET Media Group would create more value for the company than any of the offers they had received.
The decision to re-list BET comes amid ongoing strategic evaluations within Paramount Global, which is seeking to optimize its portfolio and financial structure. The network, known for its influence on Black entertainment and culture, remains a pivotal asset in the media landscape.
As discussions progress, the industry will be watching closely to see how potential buyers, including internal leadership like Scott Mills, could shape the future direction of BET under new ownership.