Diddy Confirms He Is Placing A Staff Collectively To Purchase BET Community

Former Dangerous Boy CEO, Diddy says he needs BET to turn into a black-owned asset as he confirms experiences that he’s amongst a number of patrons who’ve expressed curiosity in shopping for BET. Earlier this week, experiences surfaced that Tyler Perry, Byron Allen, and Diddy all expressed curiosity in shopping for the bulk stake of BET Media Group.

There are unconfirmed experiences that the BET, which is owned by Paramount International, is seeking to promote the corporate. The BET Media Group holds BET, BET+, VH1, and BET Studios (manufacturing). On Wednesday night, Diddy shared a message on his Instagram account the place he confirmed earlier experiences by Selection that he was placing his hat within the ring personal such a robust asset.

“Media is essentially the most highly effective trade on the earth however it’s the trade the place now we have the least quantity of possession, affect and management!” Diddy stated in a screenshot posted to his Instagram feed.

He added, “It’s time for @BET to be Black-owned once more so now we have the facility to inform our personal tales, management our personal narrative! This isn’t about me it’s about WE!!!!”

It’s unclear if Diddy was profitable in profitable his bid, as he spoke within the current tense as if he already owned and was structuring the enterprise.

“I’m constructing a group of leaders within the tradition to BET+ pursue possession in @BET collectively! We’ve to unify our energy and assets to create actual change! #THETIMEISNOW,” he stated.

Diddy additionally challenges different influential black businessmen and ladies to unify in possession of corporations like BET.

Black Leisure Tv (BET) was based by Robert L. Johnson in 1980 and efficiently produced many reveals that turned iconic in African American tradition. The community was bought in 2001 to Viacom for $3 billion because it misplaced its standing as black-owned and resulting in followers of the community changing into disenchanted with the sale and later the content material on the present, which was blamed for being “degrading” to black folks due to the sorts of reveals and music promoted.

Diddy is already a co-owner of Revolt TV, a music-oriented media firm he launched in 2013 with enterprise companion Andy Schuon. The corporate employed Detavio Samuels as its new CEO in 2021. Buying BET Community would additional bolster the music mogul’s foothold within the black media area and reveal that he needs the community to be black-owned once more.

If profitable, BET can be the most recent addition to the billionaire hip hop mogul’s enterprise empire. Along with his Dangerous Boy Leisure, Diddy already has possession stakes in Cîroc, DeLeón Tequila, and his not too long ago launched Love Information.

Diddy shared a clip of Rashad Bilal, co-host of Earn Your Leisure podcast, sharing what he discovered from a dialog with the Dangerous Boy rapper/producer.

“We’re good buddies with the folks at REVOLT, so once I heard Diddy was truly wanting [to buy BET], I stated, ‘Okay, let me dig just a little additional,’” Bilal shared on the podcast. “I referred to as him. And I stated, ‘What does this actually imply? Be trustworthy with me. He gave me a play, and what he instructed me was one thing that was truly fairly spectacular the place his plan — Diddy’s plan — is to not purchase it individually, to not management it individually; it’s truly to place collectively a supergroup of the highest Black folks. Everyone that you’d most likely consider on the earth of sports activities, leisure, enterprise.”

“What does that appear like if all of them come collectively at a roundtable and personal an already viable media firm?” Bilal continues. “That already has main distribution, that already has thousands and thousands of {dollars} in advert income, that already has programming. What does that appear like for us to essentially have scripted reveals that aactually are useful? To have information that’s truly truthful? To focus on folks that’s truly doing actual issues on a large degree?”

Bilal later added that his podcast Earn Your Leisure and BET will not be opponents within the media area.

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