Diddy Enters The Race To Purchase Majority Stake In BET Networks
Diddy has entered the race to bid for BET Networks. If the business mogul were to add BET ownership to his arsenal, Diddy might be on track to build his “Black-owned global media powerhouse,” including his network Revolt TV.
The “Gotta Move On” artist has entered the bidding war to purchase BET alongside Tyler Perry and Byron Allen, who also want to buy the network from Paramount. According to reports, sources around the Bad Boy founder said he is “exploring the opportunity” as a part of his mission to become a “Black-owned global media powerhouse.”
Paramount said there hasn’t been a discussion with Diddy or any other candidate about purchasing BET.
Diddy owns many products and brands, including a second label besides Bad Boy Records, and announced Love Records in 2022. The entrepreneur also owns another TV network, Revolt TV, which also airs Yung Miami’s show, Caresha, Please.
Diddy also became the first rap music billionaire in 2011.
In 2022, the rap mogul invested in cannabis locations in New York, Massachusetts, and Illinois — making him the largest Black-owned cannabis operation in the U.S. Diddy is known to be a successful businessman outside of his music career.