*In life, despite all the hoopla, some things are just too pricy for their own good. For Tyler Perry, that thing was BET Media Group, which he expressed interest in buying at one point and time.
As the entertainment mogul is now sharing his thoughts on obtaining the network, the subject of price comes into the conversation.
“I was disappointed about it for a number of reasons,” Perry said recently as he commented publicly for the first time on why things didn’t work out in buying BET, calling the process “disrespectful.”
“The way it happened was disrespectful in a lot of ways,” he added. “Don’t try to get me to pay for something that’s not worth anywhere near the value.”
Perry’s remarks were made during an appearance at a Bloomberg summit on business equality, the Atlanta Journal-Constitution reports. The appearance comes months after the Midea actor put his bid in to buy BET Media Group after Paramount Global put it on the market in March 2023. In addition to BET, BET+, BET Her, BET Digital, BET Studios, and VH1, Paramount Global owns a slew of media companies, including CBS, MTV, Nickelodeon, Showtime, and Paramount Picture, according to Urban Hollywood 411.
Despite its roster of networks, Paramount Global reportedly had other things in mind as its selling of BET came down to raising money “— while still maintaining a minority stake in the BET properties — and continuing a commercial relationship with the brand,” the site noted.
In addition to Perry, Byron Allen and Sean“Diddy” Combs voiced their respective interests in buying BET Media Group.
Although interest looked good for buying BET, the hype surrounding the sale was less than stellar, with the New York Post reporting in June that dwindling interest stemmed from investors balking at the “$3 billion-plus” asking price for the network.
In August, things continued to slip amid a report from the Wall Street Journal about Paramount letting potential buyers know it was taking BET Media Group off the market after lower-than-expected bids were coming in.
With Perry’s comments added to the mix, the question is was he right? Did Paramount Global make a mistake asking for too much to get BET?
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