Paramount International will reportedly convey BET to market once more, however this time with a price ticket of between $160 and $1.7 billion.
Each kindunique costs will probably be supplied to consumers “together with” BET CEO Scott Mills and others.
Mills joined BET in 1997 as senior vice chairman of enterprise growth, then led the corporate in 2018 and have become CEO in 2021. The 55-year-old additionally served as government vice chairman and oversaw the launch of BET’s official web site within the early 2000s.
BET Media Group President and CEO Scott Mills attends the 2024 BET Awards + BET Expertise Information Welcome Reception on June 27, 2024 in Los Angeles, California.
Paras Griffin/Getty Photographs
Up to now, Tyler Perry, Sean “Diddy” Combs and Byron Allen have all been potential bidders for the traditionally black leisure community. In 2023, Allen supplied $3.5 billion to amass the community.
Nevertheless, Paramount pulled BET from the market final August as a result of “a sale wouldn’t lead to any significant deleveraging of its stability sheet.” wall avenue journal. Paramount sources additionally revealed ny put up“We made this resolution as a result of the advantages of sustaining a majority stake in BET Media Group create extra worth for Paramount than any proposal we obtained.”
Now, the co-CEO of Paramount International has a brand new takeover bid for BET, which incorporates asset gross sales, streaming partnerships and, sadly, layoffs.
Along with the gross sales, Paramount bought the CBS New York headquarters for $760 million in 2021 and the CBS Studio Heart website for $1.85 billion. As well as, Paramount International bought Simon & Schuster to personal fairness agency KKR final October for $1.62 billion.
