Paramount Global Is In Exclusive Talks To Sell BET For $1.6 Billion

Paramount Global is in exclusive talks to sell its Black Entertainment Television network to buyers that include BET Chief Executive Officer Scott Mills and Chinh Chu, who runs the New York-based private equity firm CC Capital.

The group has been discussing an offer of $1.6 billion to $1.7 billion, people familiar with the matter said, asking not to be named revealing information that’s not public. 

Last year, the same group had discussed an offer of a little under $2 billion, Bloomberg reported in December. Chu and Mills are rekindling discussions with Paramount for BET after Shari Redstone, who has a controlling stake in Paramount, walked away from a proposed merger with Skydance Media, the company led by David Ellison. 

Representatives for Paramount and Chu declined to comment. Mills didn’t respond to a request for comment. The shares jumped on the news and were up 4.2% to $10.56 at 2:28 p.m. in New York.

Paramount, which owns CBS, MTV and other networks, had also previously received an offer from media mogul Byron Allen, who put together a $3.5 billion bid last year for both BET and the VH1 channel, and emphasized that BET should be Black-owned. Actor and filmmaker Tyler Perry, who is an investor in the BET+ streaming service, also held discussions about purchasing a stake in the larger enterprise.

The sale process last year was “disrespectful,” Perry said at a Bloomberg event last year. “Don’t try to get me to pay for something that’s not worth anywhere near the value” Paramount said it was, he said at the time.

Founded in 1980 by businessman Robert L. Johnson, BET was sold to Paramount’s predecessor, Viacom, in 2001 for about $3 billion. The network has strong ties to some of the most successful Black entertainment creators, including Perry, Kenya Barris and Rashida Jones, who are investors in the BET Studios production company.

Paramount has said it’s working to cut $500 million in costs to boost profitability. 

News Shorts: Supa Strikas Now Has A Release Date On Play Room With Ambani Tech Squad, Black Tax To Make Its Freemium Debut On e.tv With A Season 2 And Via Allocates Two New Afrikaans Series In August

Play Room is now a Supa Striker

Last month, it was reported that Play Room had acquired rights to Supa Strikas (currently seen on Moonbug) although not announcing it officially. They gave viewers a teaser on their social platforms and it didn't take long to link the logo with Supa Strikas.

Now the series is slated to air daily at 17:00 from 17 June with a third season. In other developments, the channel will be rolling out an educational segment Ambani Tech Squad (through Ambani Africa) dwelling on technological concepts.

Ambani Africa, an award-winning EdTech powerhouse that uses augmented reality, captivating animation, and exciting gamification to enhance the learning journey for students, parents, educators, and organizations alike.

More DStv repeats on e.tv

BET is a general entertainment channel operated by Paramount Global that celebrates black culture through films and series. It is home to locally produced shows such as Redemption, Queendom, Isono alongside international shows like Basketball Wives.

For several years, eMedia Investments had been distributing various content from the broadcaster on their linear platforms and even co-produced some content with e.tv now slated to rollout Black Tax at 19:30 from 15 June.

Black Tax is a comedic series that follows Thuli as she is brought up in a tightly-knit black community and grows up to be successful. However, as her family starts growing she questions the importance of the black tax.

Upcoming shows on Via

Die ontwerpers

Season 1

1 August – 24 October 2024

Thursdays 17:30

In each episode of this show, an interior designer takes the viewer on a tour of three spaces: One they designed themself, one that inspires them, and – finally – their own home.

Wie was dit?

Season 1

2 – 30 August 2024

Fridays 20:30

A new competition show for lovers of true crime and police dramas. We all know someone who's good at solving the fictional crimes they see on TV. In this show, we'll set out to see if these "couch detectives" are truly as smart as they claim to be. Four "couch detectives" will check into a hotel in a sleepy countryside town and, in each episode, they will be presented with a fictional crime that they need to solve. The contestant who cracks the most cases by the end of the season, is the winner. This season will feature celebrity contestants.

Klankbank

Season 5

2 August – 25 October 2024

Fridays 20:00

In each episode of this game show, three contestants go head-to-head to test their knowledge of popular music. How much money can they collectively bank for the ultimate winner to take home in the end? Hosted by Arno Greeff.

Reminder: BET Unveils New Daily Drama Queendom, Might Rollout On e.tv

BET Africa imagines a more inclusive future with a riveting new daily drama, Queendom. Coming to DStv channel 129 on 22 April, the new scripted daily drama celebrates the strength, resilience, and power of women who shape their own destinies.

 

Following the success of Isono and Redemption, BET Africa’s latest original daily drama is inspired by authentic African royal legacy. Rooted in destiny and centred around the life of Nthandokayise Mthombeni, played by Linda Mtoba, the story presents a world in which women rise, flip patriarchy on its head and reign.

 

Queendom explores themes of cultural heritage, tradition, fate, ancestry, power struggles, identity and survival. It tells the story of Nthandokayise (Linda Mtoba), a maverick community leader in Tsakane, who discovers that she is the rightful heir to the throne of Khahlamba Kingdom. Her mother, Tholakele Mthombeni, played by Sindi Dlathu, has been keeping this secret from her for 30 years.

  

Queendom brings South African acting royalty to TV screens with a distinguished cast including Hamilton Dlamini as King Banzi Khahlamba, Mduduzi Mabaso as Prince Andile Khahlamba, Pallance Dladla as Prince Mcebo Khahlamba and Dawn Thandeka King as Queen MaNdlovu. Other prestigious cast include Slindile Nodangala, Themba Ndaba, Mike Mvelase, Lehasa Moloi, Nhlanhla Kunene and Patrick Mofokeng.

 

Reflecting on her role, Linda Mtoba says, "I am thrilled to be part of 'Queendom,' a story that goes beyond the ordinary and delves into the complexities of love, destiny, and the power within. Ntando is not just a character; she's a symbol of the strength all African women possess. In her story, we witness the collision of two worlds, the power of destiny and the rise of a queen. I can't wait for viewers to embark on this journey with us." 

 

Sindi Dlathu who plays Tholakele Mthombeni, a resilient and protective mother to Nthando says, "Taking on the role of Tholakele in 'Queendom' has been a profound experience. Tholakele beautifully captures the essence of familial bonds, empowerment, and the strength of a mother's love. Mzansi is in for a treat, and I am excited to be part of this extraordinary project. It’s an important story to tell."

 

The multitalented musician and actor Jabulani "Sjava" Hadebe is another notable member of the Queendom cast, playing Prince Mkhuseli Khahlamba, the first born son of King Banzi. The award-winning artist, known for hits like 'Ekseni' and 'uThando,' has crafted the title track of Queendom. The song is titled Wena Wamanzi promises to resonate with the emotional depth of this powerful story. The acclaimed artist notes that, “Being a part of Queendom has been a beautiful experience. I’m honoured to be part of something that pays homage to African culture and I’m honoured to have been able to contribute a piece of my music to the narrative.”

CAST & CREW

 

Production Company: Clive Morris Productions

 

Directors: Andries van der Merwe (Head Director), Athi Patela  and Menga Nhlabathi (Series Directors)

 

Head Writer: Lunga Radebe

 

Director of Photography: Chuck Manganyi

Creative Producer: Kayla Ahmed Jardine

Show Runner: Sayitsheni Mdakhi

 

Wardrobe: Phindile Mlambo

 

Make Up: Mmabatho Malinda

Key Cast: Linda Mtoba, Sindi Dlathu, Hamilton Dlamini, Mduduzi Mabaso, Pallance Dladla, Dawn Thandeka King, Jabulani "Sjava" Hadebe, Slindile Nodangala, Nhlanhla Kunene and Patrick Mofokeng, Themba Ndaba, Mike Mvelase, Sibulele Gcilitshana and Samkelo Ndlovu.

 

Synopsis: Ntandokayise Mthombeni, a maverick community leader in Tsakane, discovers that she is the rightful heir to the throne of the Khahlamba Kingdom. She must overcome the ruthless and immoral Prince Mcebo in a life-threatening battle to fulfil her destiny as Queen.

 

Premise: Ntando, a resilient and street-smart law student, battles financial hardships while juggling multiple jobs to support her mother, step-father and loving boyfriend in Tsakane. Unbeknownst to her, she is the long-lost heir to the throne of the Khahlamba Kingdom. Her mother, Tholakele, had kept this a secret, having fled for her life from the Khahlamba Kingdom over 30 years ago. Hurt that he is not next in line, Prince Mcebo, is set to destroy the kingdom through his greed and corruption. Will Ntando awaken to the significance of saving her people and the sacred life-sustaining spring water at the heart of the Khahlamba Kingdom?

News Shorts: Da Vinci Acquired Broadcasting Rights To Future Chicken, Praise Petey Removed From Disney+ & Star+ Globally And BET Announces Production Of New Series Queendom

Birds flock to Da Vinci

Multiplatform content co. Wind Sun Sky Entertainment (WSS) has partnered with family streaming outfit Da Vinci to expand the reach of its kids’ eco-initiative Future Chicken around the globe.

Future Chicken is a climate justice initiative for kids (6-10+) created to address the eco-anxiety they are experiencing today by leveraging evidence-based positive storytelling to let children know that there is hope for the planet and that they can make a difference when it comes to their future. In November, Future Chicken launched in multiple formats of content, on Roblox, YouTube and the property’s dedicated website, futurechicken.com.

With young viewers flocking to shortform content, the Future Chicken ‘Ecotainment’ shorts series laid the foundation for launch. A mixed media content offering, Future Chicken shorts feature Potato the Chicken (a.k.a. Future Chicken) and her team of planet protecting friends highlighting to kids the positive things happening to support the future of the environment. With a blend of humor, ingenuity and collaboration, Potato, her egg sidekick Frittata and their friends set out to create a hope-filled future built on caring communities, thriving oceans, greener cities and renewed optimism.

Praise Petey exits Disney+

Last November, it was revealed that the 20th Television animated series, “Praise Petey”, had been cancelled after one season. The show was released on Freeform and Hulu in the United States and was also released as a Star Original on Disney+ around the world.

The series followed Petey, a New York City “it” girl who has it all until her life comes crashing down around her. As luck would have it, a mysterious gift from her father gives her a new lease on life: She’s going to “lean into” modernizing his small-town cult.

However, just over three months after the cancellation of the show, “Praise Petey” has now been removed from Star+ in Latin America and from Disney+ in many countries around the world, including the UK, Canada and Australia.   

Queendom coming to BET 

Dlathu and Mtoba have been announced as part of the cast of BET Africa’s new daily drama, ‘Queendom’.

Following the success of ‘Isono’ and ‘Redemption’, BET Africa is back with a new scripted daily drama which celebrates the strength, resilience and power of women who shape their own destinies.

‘Queendom’ explores themes of cultural heritage, tradition, fate, ancestry, power struggles, identity and survival.

It tells the story of Nthandokayise Mthombeni portrayed by Mtoba, a maverick community leader in Tsakane, who discovers that she is the rightful heir to the throne of Khahlamba Kingdom.

News Shorts: Sky News Named News Channel Of The Year At RTS, BET Announces New Series In Bloom + Release Date And NCIS Spinoff Greenlight By Paramount Plus

Sky scores big in the UK

Sky News has been named News Channel of the Year for the seventh consecutive year at the Royal Television Society Journalism Awards. 

Responding to Sky News winning the award, David Rhodes, Executive Chairman for Sky News Group said:

“It’s been a momentous year for news and I couldn’t be more proud that Sky News has been recognised by winning News Channel of the Year for a phenomenal seventh year in a row. To provide audiences with the full story first, our 800 journalists around the world have told

compelling human-interest stories, held those in power to account, have gone deep into the data and delivered powerful eyewitness reports from around the globe”.

The BBC, which similar to Sky News is based from the UK and made substantial changes to its news output in the last year walked away almost empty-handed. The broadcaster did secure a win for its coverage of the Ukraine conflict and for a BBC Wales investigation into Welsh Rugby.

BET launches new local drama

In Bloom has been produced by MTV Staying Alive Foundation with continued support of Paramount and grant support by the Bill & Melinda Gates Foundation. The thought-provoking collection tells unheard stories addressing a range of crucial issues including period poverty, child marriage, gender-based violence, HIV self-stigma, family planning and women’s economic empowerment. 

The anthology comes from five female filmmakers from Nigeria, Kenya, India, the US and Brazil, creatively championing new voices and enabling insightful conversations to dismantle systemic injustices.

In Bloom will also premiere on BET, DStv Channel 129 on March 8 at 20:00 CAT

NCIS spinoff in development 

CBS Studios is expanding its ever growing NCIS franchise by bringing back two fan favorite characters from the mothership series, Tony DiNozzo, played by Michael Weatherly, and Ziva David, portrayed by Cote de Pablo, who will reunite on screen for the first time in 10 years. Paramount+ has given a 10-episode series order to the untitled spinoff headlined by Weatherly and de Pablo and written by John McNamara (Trumbo, The Magicians). All three executive produce.

Nicknamed NCIS: Europe, the new action-packed spinoff, set to start production later this year, will follow Tony (Weatherly) and Ziva (de Pablo) as they find themselves on the run across the continent.

NCIS is one of CBS Studios’ most valuable franchises and its expansion has been a goal for the studio. This is one of two new NCIS offshoots greenlighted this year, along with the Young Gibbs prequel series for CBS, NCIS: Origins. It is also the second extension of the NCIS franchise beyond the U.S., following NCIS: Sydney, which has been airing on CBS in the U.S.

Recap To The Month: Byron Allen Offers To Buy BET From Paramount Global For $3.5 Billion

Allen, who is founder and CEO of Allen Media Group, emailed Paramount Global senior executives and board, offering $3.5 billion for BET Media Group, which includes the BET cable channel, VH1, BET Studios and streaming service BET+, sources familiar with the situation confirmed to Variety. That’s up from $2.7 billion that Allen had offered earlier in 2023.

Reps for Paramount Global and Allen Media Group declined to comment. Bloomberg first reported on Allen’s renewed offer for BET. Other potential buyers of BET Media Group include BET CEO Scott Mills, a 26-year veteran of the company, and Chinh Chu, a former executive at private-equity firm Blackstone executive who runs CC Capital Partners, who have discussed a price tag of under $2 billion, Bloomberg reported.

In the email to Paramount brass, Allen wrote, “You are pursuing an inside sale at a below-market price with management that will not yield the highest price for the stockholders. We believe it would be an egregious breach of fiduciary duty by the Paramount Global management team and board of directors if BET is sold for anything less than the highest price, particularly, in order to provide a sweetheart deal to an insider at the expense of public shareholders.”

Earlier this year, Paramount Global had been exploring the sale of a majority stake in BET Media Group, with bidders said to include Allen, Tyler Perry and Sean “Diddy” Combs. In August, Paramount called off the bidding process for BET because “a sale wouldn’t result in any meaningful deleveraging of its balance sheet,” the Wall Street Journal reported.

The renewed interest in a deal for BET comes amid talks between Warner Bros. Discovery and Paramount Global about a potential merger. Meanwhile, Shari Redstone, whose National Amusements owns a controlling stake in Paramount Global, has been in talks to sell her shares in NAI, according to multiple reports.

A deal for BET Media Group would dramatically expand Allen’s media empire. Allen Media Group, which encompasses Entertainment Studios (founded 30 years ago as CF Entertainment), owns 12 cable networks, including the Weather Channel, JusticeCentral.TV, Cars.TV and Pets.TV, a theatrical movie distribution company and a stable of 28 broadcast stations affiliated with the Big Four broadcast networks (ABC, CBS, Fox and NBC). Allen Media Group also produces, distributes, and sells advertising for 73 television shows, making it one of the largest independent producers/distributors of first-run syndicated TV programming for broadcast stations. The company has nearly 2,300 employees.

Paramount Is Reportedly In Talks To Sell BET For Almost $2 Billion

For most of 2023, Paramount has been looking to sell BET. Reportedly, earlier this year, Paramount decided that the offers for BET were not worth it now though Paramount has decided to once again look at deals to sell BET.

According to a report from Bloomberg, Paramount is in talks with multiple potential buyers, include BET Chief Executive Officer Scott Mills and Chinh Chu, a former Blackstone Inc. member. The deal will reportedly be for just under $2 billion.

Originally this deal would reportedly include BET cable networks, BET+, a subscription streaming service, and BET studios. VH1 is now also managed by BET and would reportedly be included in this deal. Now though, it is unknown if VH1 will be a part of this new deal.

Paramount in the past, was reportedly interested in a minority stake but is likely looking for ways to cut back on expenses and earn cash to pay down its debts. It is unknown if this deal will still include a minority stake in the channel.

Paramount also recently agreed to sell Simon & Schuster to Penguin Random House for $2.2 billion, but regulators killed the deal. Paramount also sold the classic CBS NYC headquarters known as Black Rock and a large number of websites back in 2020.

Now selling BET seems to be the next step in Paramount’s efforts to free up cash to pay off debts and invest in Paramount+. 

Credit: Luke Bouma.

Paramount, Home To MTV And Nickelodeon Reportedly Up For Sale or Merger

Recently, Paramount, the parent company of Nickelodeon and Paramount+, has been looking to sell some of its assets and make cuts to others. Now, according to a report from CNBC, Shari Redstone, president of National Amusements and controlling shareholder of Paramount Global, is open to a merger or selling the company if the price is right.

Shari Redstone owns roughly 80% of Paramount Global voting stock and was reportedly the main force behind merging CBS and Viacom back in 2019. That merger resulted in the company we now know as Paramount.

Paramount holds a lot of assets that would attract many potential buyers. Its local affinities and the CBS network alone are highly attractive, especially for their NFL contract. However, the company has a lot more to offer, including Nickelodeon, Paramount+, MTV, Pluto TV, Comedy Central, Showtime, and more. This also includes popular shows and franchises like SpongeBob SquarePants, Star Trek, South Park, and more.

In recent years, most media companies, including Paramount, have been struggling with the growth of  cord cutting. Paramount’s market capitalization has reportedly dropped to $7.7 billion as 2023 hit many media companies hard. That is the lowest level it has been at since the 2019 Viacom and CBS merger. That drop could make the company a target for a merger or a sale.

According to CNBC’s sources, any potential deal for Paramount would have to be at a good price or the Redstone family wouldn’t accept it. Exactly what that price is was not disclosed in the report.

Paramount has a lot going for it right now, with Paramount+ hitting 61 million subscribers, a number that other major streaming services could only dream of. It also has very lucrative sports deals, including the NFL, March Madness, and a new deal with the Big Ten that will see more college football and basketball games on CBS. This could help Paramount outlast any further drop in the market, but it also makes it very attractive to potential buyers.

Some outsiders have said they believe Paramount is too small in the long run, though, to compete with Disney, Warner Bros. Discovery, NBCUniversal, and a growing number of streaming companies like Amazon along with Apple. Even with its large catalog of shows and networks Paramount is facing massive companies like Disney and the newly merged Warner Bros. Discovery.

For years we have heard predictions that there would be consolidation in the market because of cord cutting. Disney’s deal to buy 21st Century Fox was likely only the start of what could be a number of big mergers. We also saw Discovery and Warner Media merge recently. Now, there are rumors that Warner Bros. Discovery and even NBCUniversal could be interested in buying up some or all of their competitors. Could that mean they are looking at Paramount? For now, we will have to wait and see.

Recap To The Week: Paramount Is No Longer Selling BET

Paramount notified bidders late Wednesday night about its decision to conclude the BET Media Group sale process, said a person familiar with the decision who was not authorized to speak publicly. The person said the company determined maintaining a heavy stake in BET creates more value for Paramount than any of the proposals after consulting with a couple highly-experienced financial advisors.

Some popular suitors included actor-director Tyler Perry, music mogul Sean “Diddy” Combs and businessman Byron Allen. At one point, some considered Perry as a leading contender based on the two successful series, “The Oval” and “Sistas,” airing on the network. He also owns a minority stake of the BET+ streaming service.

Along with BET, the deal would have included the cable channel VH1.

BET was originally started by Robert and then-wife Sheila Johnson in 1980. Robert Johnson created BET from the basement of his Washington home after securing a $500,000 loan from longtime cable executive John Malone and eventually built the brand into the leading TV network for Black Americans.

Johnson expanded BET by creating smaller digital networks geared to fans of jazz, gospel and hip-hop along with being a publishing house and event production firm. The network was initially led by popular shows like “Bobby Jones Gospel,” “Rap City,” “ComicView,” “Lift Every Voice” and “Teen Summit.”

In the early 1990s, the network became the first Black-controlled television company to be listed on the New York Stock Exchange.

BET has seen a decline in subscribers and revenue over the past decade. Subscribers fell to an estimated 66.3 million in 2022 from 89.5 million in 2014, a peak year for cable television, according to S&P Global. S&P said the cable network’s annual profits have fallen from an estimated peak of $319 million in 2013 to $188 million in 2022.

Source: Hip-Hop DX

What To Expect On BET Africa In August 2023?

STELLAR AWARDS TBC

MONDAY 7 AUGUST @ 18:30

A Stellar Awards gospel music show is the first and oldest televised awards show honouring Gospel music for over 38 years. The annual presentation ceremony features performances by prominent gospel artists. 

ASSISTED LIVING  S4  

FRIDAY 25 AUGUST @ 20:30

After losing his job, Jeremy decides to move to the backwoods of Georgia to help his crazy grandfather who has foolishly purchased a terribly run-down home for the elderly.

HOUSE OF PAYNE   S10 (C2) 

FRIDAY 25 AUGUST @ 21:00

A multi-generational family lives under the same roof and gets into many comic situations because of their social life.

BET AFRICA ORIGINALS

BLACK TAX S3

SATURDAY @ 19:30 CAT

1 July 2023

Black Tax is a hilarious, fun and light-hearted sitcom entrenched in the culture of black tax, the good, the bad and the laugh out loud aspects of it! If you think you’re just earning your own way in this world, think again because it's payback since the first pay cheque! 

NKALAKATHA: THE LIFE OF MANDOZA S1

WEDNESDAY 16 AUGUST

@ 21:00

It’s the dawn of South Africa’s liberation; big-hearted, impulsive Mduduzi from Zola township dreams of having a home and wants to help his mother and family. Kwaito is his one-way ticket. This is a story of a young man with a dream, that finds him unprepared and soon overwhelms him. The dream becomes a nightmare. This is a story of the person behind the superstar "Mandoza". The story delves into his emotional and personal struggles in a way that gives the viewers a sense of his human side. It is the rise of the star, the destruction and the restoration. 

BET's Future As A Linear Channel Up In The Air As Tyler Perry Reportedly Backs Out Of Deal

Media mogul Tyler Perry refuses to cough up the $3 billion-plus that Paramount is asking in an auction of Black Entertainment Television — and the fierce haggling has begun to throw a sale into doubt, The Post has learned.

The “Diary of a Mad Black Woman” star has been considered the frontrunner to win the auction for BET Group, whose properties include cable channels BET and VH1 along with the BET+ streaming service.

But Perry is losing patience with the drawn-out process after making an offer that’s short of $3 billion — a price tag that other investors also consider to be lofty, according to a source close to the situation.

The filmmaker, who already owns a 25% stake in BET and BET+, has private equity backing for his offer, the insider added.

“He is used to getting his way and is frustrated,” the source said, adding that final bids are due by mid-July.

Paramount Global bought BET for $2.7 billion in 2000 when the Shari Redstone-owned company was called Viacom. The company wants roughly 10 times the BET Group’s current $325 million in Ebitda, or earnings before interest, taxes, depreciation and amortization, sources said.

However, the continuing decline in cable’s popularity as more people cut the cord figures to be a drag on BET Group’s future earnings.

Paramount Global — which includes CBS, MTV, Paramount Pictures, the recently launched Paramount+ streaming service and book publisher Simon & Schuster — had $15.6 billion in long-term debt as of March, according to public findings.

“Paramount’s leverage now is six times Ebitda, so to make this work a sale needs to happen at eight times or more,” the first source said, since after accounting for taxes a sale at a lower multiple will not reduce its debt level.

“There is interest, but not at eight times [Ebitda].”

There was a report by sometime ago that Perry had won the auction, leading to premature congratulations from Perry’s “Madea” co-star Keke Palmer.

Weather Channel owner Byron Allen is also in the hunt, according to an inside source.

Meanwhile, private equity firm CVC Capital Partners — which partnered with Group Black, a media company that teamed with celebrities including Rapper 50 Cent and NBA legend Shaquille O’Neal — is out of the process, leaving Group Black looking for a well-funded partner, two sources said.

Tyler Perry To Take Control Over BET And Likely VH1

Tyler Perry (Madea, Gone Girl), founder and CEO of Tyler Perry Studios, will take control of BET, The Streamr has learned. The deal comes as a relief to Paramount Global, who I have learned is “hemorrhaging money”, according to a source, to the tune of more than $400 million. For reference, Perry’s net worth was recently stated by Forbes as $1 billion.

This new deal, valued at an undisclosed amount, will give Perry, a veteran champion of content aimed at the African American demographic, control BET Media Group, which also owns VH1. 

TYLER PERRY, BET, AND STREAMING

BET+, the streaming service for the cable channel, is a joint venture between Paramount Streaming and Tyler Perry Studios. Launched in 2019, the service established a 4 year relationship between Paramount and Perry.

CEO of Paramount Global, Bob Bakish, previously explored a sale of a majority stake in the company. CNBC reported that insiders at Paramount believed selling to a group of wealthy black investors could “unlock opportunities and value”. 

From Perry’s side, he previously expressed interest in the acquisition in March 2023, stating to ETOnline:

“Rumor? No, it’s not a rumor, I’ve been there for four years now and had tremendous success. I wasn’t expecting this to happen, so, yes – if that is possible, I’m very, very interested in taking as much of it… If it’s possible, I’m gonna take as much of it as I can.”

Reps for BET Media Group and Perry did not respond to our multiple requests for comment at the time of publication.

[UPDATE: REPS FOR BET DECLINED TO COMMENT ON THE STORY AND REPS FOR PERRY HAVE RESPONDED; WE WILL UPDATE WITH FURTHER DETAILS]

WHY IS TYLER PERRY BUYING BET?

We have also had confirmation that speculation of a buyout came about once a number of projects for BET suddenly had funding pulled as soon as last week, including some in Atlanta. Speaking to Yahoo Finance in 2021, CEO of BET Media Group Scott Mills said that, “BET generated nearly 100% revenue growth in 2021 from BET+, and 50% subscriber growth over the same period,”. However, after aiming to spend a reported $17 billion in content production over 2022, and with ongoing issues such as the WGA strike, a niche service with simply “more than 3 million” subscribers after 4 years of launch simply couldn’t cut it. 

It is not yet known whether BET+ will continue on, now operating under Perry’s sole purview, but the service has plans to continue into the era of ad-tiers. Announced in May 2023 for a June 25th launch, the ad-tier to combat BET+’s (now reasonable) ad-free price of $9.99/month will come in at $5.99/month. 

BET has produced titles such as Being Mary Jane and First Wives Club, as well as Tyler Perry’s House of Payne. Tyler Perry Studios has housed the production of titles like Hawkeye, Black Panther: Wakanda Forever and A Madea Homecoming.

What To Expect On BET Africa In July 2023?

SISTAS S6
THURSDAY 22 JUNE @ 21:00
Sistas follows a group of single black women as they navigate the ups and downs of modern life, which includes careers, friendships, romances, and even social media.

BLACK TAX S3
SATURDAY @ 19:30 CAT
1 July 2023

BET AFRICA MOVIE STUNTS

WESLEY SNIPES FESTIVAL
SATURDAY 22/29 JULY @ 20:00
ART OF WAR: THE BETRYAL
THE CONTRACTOR
THE DETONATOR

SPIDERMAN FESTIVAL
FRIDAYS @ 21:30
THE AMAZING SPIDER-MAN
THE AMAZING SPIDER-MAN 2

MONDAY NIGHT DRAMA FESTIVAL
MONDAYS @ 21:00
I SPY
THE INTRUDER
THE CALL
ONCE UPON A TIME IN MEXICO

Recap To The Year: Redemption Cancelled After One Season On BET Africa, Will Be Made Available On e.tv

Redemption is another short lived South African based drama that was co-produced by two of the most notable production companies; Seriti Films, who are known for their masterful storytelling and Burnt Onion Productions, who deliver world-class productions.

Set in a mega church, centres on the Zikode family. After the disappearance of Pastor Simon Zikhode (Themba Ndaba), his daughter Faith (Kwanele Mthethwa), who is on the cusp of an international music career, drops everything to come to her family's rescue.

The cast includes Tina Jaxa, Sthandiwe Kgoroge, Seputla Sebogodi, Yonda Thomas, Pearl Modiadie, Sparky Xulu and newcomers Nkone Mamejta and Toka Mtabane.

Redemption debuted sometime in 2022 as replacement BET's first original soap, Isono and with luck the series managed to attract 80000 households following its expansion from the Compact bouquet over to Access with the latter expected to air on e.tv.

Following the cutback of international programming on e.tv, eMedia Investments has been looking to build their original portfolio with eKasi on eReality and Kuiertyd on eExtra and have even managed to establish partnerships with Amazon Prime Video and BET for content.

Redemption comes as one of the several local projects eMedia Investments has in store for consumers with The Black Door set to get a prequel titled Isitha: The Enemy.

Reminder: The Block And MTV Shuga S11 Coming Soon To eReality And MTV Base Respectively

The Block is an Australian game show from Nine Network which follows couples who compete against each other to refurbish a home and sell it at an auction for the highest price to receive a monetary prize and go through a range of experiences as they do so. It features Judges Scott Cam and Shelley Craft.

Currently seen on M-Net, eMedia Investments picked up rights to the reality series for one of the top channels in the market, eReality. The channel features original content alongside a range of content licenced from CBS Studios, NBCUniversal and Paramount.

MTV Shuga Naija Season 5, the highly anticipated series produced by the MTV Staying Alive Foundation, premiered at an exclusive event in Lagos on Thursday. The event featured a press briefing that focused on the issues addressed in the series, followed by a private screening of the new season.

The new season combines an exciting ensemble of established on-screen legends and rising stars including Adesua Etomi-Wellington, John Njamah, Tomiwa Tegbe, Maggie Osuome, Okey Uzoeshi, Gbubemi Ejeye, Genoveva Umeh, Ilooise Omohimin, Sharon Jatto, Lexan Peters, Bolaji Ogunmola, and Susan Pwajok.

MTV Shuga premieres May 7 at 22:00 on MTV Base and The Block premieres May 5 at 19:00 on eReality.

Paramount Global In Talks With Tyler Perry To Sell Majority Stake In BET

Paramount Global is mulling the possible sale of a majority stake in BET Media Group, which includes the BET cable network, BET Studios and VH1, a source with knowledge of the matter told Reuters.

The company believes BET, an entertainment brand focused on the Black community and culture, would attract substantial interest from Black investors or institutions, said the source, who was not authorized to speak publicly.

BET drew an immediate expression of interest from Byron Allen, whose Allen Media Group's assets include The Weather Channel. A spokesperson for Allen Media Group said it "will be pursuing the acquisition of the network."

Media mogul Tyler Perry, the actor and producer best known for the "Madea" movie franchise, also is interested bidding, according to the Wall Street Journal and various Hollywood trade publications.

Perry has a longstanding relationship with Paramount, partnering with the media company to launch the BET+ subscription service in 2019. He retains a minority stake in the service.

Paramount also formed BET Studios in 2021 through a partnership with "Black-ish" creator Kenya Barris, actress Rashida Jones and "S.W.A.T" co-creator Aaron Rahsaan Thomas.

Paramount hopes to maintain a minority stake to benefit from any value that might be unlocked by the transaction, the source said.

The Wall Street Journal first reported that Paramount was exploring a possible sale of BET as it looks to improve its balance sheet.

VH1 Is Making A Comeback On International Shores Through BET

VH1 started life as a music channel for older demos but gradually shifted towards reality TV, and more recently has targeted the African American audience. Bakish said:

“This strategic alignment will ensure VH1 − a leader in multi-cultural programming and the second largest US cable network for Black viewership − is best positioned for future success as a key part of the powerful BET ecosystem under the leadership of Scott Mills. Scott and his team continue to drive the evolution and growth of BET by building an interconnected set of leading platforms – linear, streaming, digital and studios – centered around the Black Community, Black Culture and Content.”

Bakish acknowledged the contribution of the MTV Entertainment Studios team under the leadership of Chris McCarthy and Nina L. Diaz, “who, for the past five years, have rebuilt the VH1 brand and produced powerful hit franchises from Black Ink Crew and Love & Hip Hop to RuPaul’s Drag Race. As Chris and his team continue to focus on integrating SHOWTIME and globalising the Media Networks Group, they’ll also partner with the BET teams to continue producing several of the existing hit shows on VH1.”

VH1 reaches approximately 90m households in the US but has gradually been phased out or rebranded with MTV variants around the world. BET, however, is going strong as a channel and streaming brand. Streaming service BET+ was launched as a JV between Paramount and Tyler Perry Studios in 2019, and has been growing fast.

Paramount Africa's Future Is Up In The Air As Several Of Their Websites Have Shut Down

For several months, Nicktoons has become a waste featuring mostly SpongeBob SquarePants and The Casagrandes with the Nick Jr. block adopting to a similar format with Peppa Pig and Paw Patrol. Basically, it appears as if Paramount is ready to call it quits.

But that's not the only thing that seems bizarre about Paramount as several brands ranging from Comedy Central, MTV, BET and Nickelodeon all once operated a regional site which gives you details about some of the content seen on the channel and was usually a place fans would engage.

Now just like Nicktoons, Paramount Africa's websites appears to have been discontinued as several consumers are redirected to a European based website.

Sure Paramount in Africa is managed by the folks in those regions but there is so much of a variation on which the company seems to have cut down with MTV and Nick Jr. But the brands in question had a lot of variation during their run.

Comedy Central, MTV Base and Nickelodeon have all been redirected to the Netherlands. Take into account, there's a slight variation aside from content there's the matter of language of which not a lot of viewers are very much familiar with.

Even the media sales website had been listed as spam or a rejected website which could be another indicator that Paramount is distancing their focus away from their linear channels and more to Paramount+.

Interesting to note, My5 a UK based streaming service is managing the once available BET Africa website. This is the brand that took away the linear feed to the channel within that region which kind of raises questions over Paramount's linear offering.

Although there's no definite release date, several Nickelodeon feeds (including Nicktoons and Nick Jr.) had been renewed through at least 2027 which is likely where Paramount MIGHT start pulling the cord on some if not all their linear channels.

I mean Asia did lose a Nickelodeon while as Latin America lost a Nicktoons perhaps a couple of feeds could join before that time but with the recent developments I wouldn't be all that shocked if Paramount followed their competitors in moving their content to streaming.

Links

Comedy Central: click here

Nickelodeon: click here
MTV and MTV Base: click here

BET: click here

Could BET Africa Be Taking The Digital Plunge As My5 Is All That Is Left Of Former Website?

Last year, it was reported Paramount will be closing the black skewed entertainment channel BET in the UK as part of a digital approach set by the company in question and at the time questions amounted to the digital endeavours for audiences in Africa.

BET has been active in the African market through DStv since 2014 serving up shows like My Wife And Kids, Real Husbands Of Hollywood, Love And Hip-Hop, Black Ink Crew, All Of Us and Mary Mary.

Over the years, the channel had become a victim of a dry spell often struggling to source out fresher entertainment and relied solely on content already viewed on Paramount's other brands Comedy Central and MTV.

As seen in the UK, My5 (aka Channel 5) a black based streaming service happens to be the distributor of BET and appears to have taken possession of the African feed although the brand shows no signs of rolling out in the region.

Although the linear version of the brand is defunct in the UK the one in Africa seems unlikely to be shuttered for the foreseeable future or for as long as the upcoming streamer Paramount+ has yet to rollout in the region.

Paramount+ is set to leverage a lot of existing content from their linear counterparts and as seen with Nickelodeon it has practically become a graveyard to their programming which is where the current local offering on BET might as well sit.

What To Expect On BET Africa In October 2022?

HIP-HOP AWARDS 2022
PREMIERES LIVE 5 OCTOBER
REPEAT: THURSDAY AT 19:30
The BET Hip-Hop Awards are an annual awards show airing on BET, showcasing hip-hop performers, producers and music video directors.

DJ ZINHLE: THE UNEXPECTED S2
SATURDAY AT 19:30
Meet DJ Zinhle as she throws the curtain on her life open. Get to know the woman behind the music, the businesses and products that's loved by many.

TALES SEASON 3
THURSDAY AT 22:00
PREMIERES 6 OCTOBER
Hip-Hop record producer Irv "Gotti" Lorenzo redefines the music genre in a completely new way for television, "Tales," described by BET as an scripted anthology series of "song stories," uses lyrics of hip-hop songs and reimagines them into mini-movies, each featuring a unique director, screenwriter and cast.

CARL WEBER'S THE BLACK HAMPTONS
WEDNESDAY AT 22:30
PREMIERES 26 OCTOBER
The show is a new family drama set in the quaint town of Sag Harbor, known as "The Black Hamptons," in Long Island, NY. From luxury communities to historic benchfronts enclaves, the story will follow the brewing feud between the 'Brittons' and 'Johnsons,' where the difference between old and new money is very apparent.

REDEMPTION
MONDAY-THURSDAY AT 21:30
A story of a preacher's daughter, thrust into trying to save the family's megachurch and businesses but learns that her family has hidden skeletons in their closet.

MADE IN AFRICA
SATURDAY AT 19:00
PREMIERES 29 OCTOBER
Made In Africa a fashion reality TV series where emerging fashion designers from across the continent battle it out to be crowned the best in business.