50 Cent is attempting to acquire BET.
Following reports that Diddy is interested in purchasing the network, another hip-hop mogul is reportedly entering the fray. According to TMZ, 50 is teaming up with Shaquille O’Neal and “Black-ish” creator Kenya Barris to purchase the network from Paramount Global.
The group is “making a massive push to strike a deal” and is ready to make an offer with CVC’s backing.
A deal, however, is still a long way off. “It’s not a done deal, but they’re deep into it,” a source says.
50 has established himself as a television powerhouse, thanks in part to his “Power” series for Starz. He left the network last year and has recently signed a multi-year contract with FOX.
The interest in acquiring BET is growing. Diddy, who currently owns REVOLT, has expressed interest in purchasing the network in order to establish a Black-owned global media powerhouse.
Tyler Perry and Byron Allen, both media moguls, are in talks to buy a majority stake in BET Media Group. Perry already has a stake in BET+, the network’s streaming service.
BET, founded by Robert Johnson in 1980, was the first national programming service aimed primarily at Black viewers. BET was purchased by Paramount Global, formerly Viacom, for $3 billion in 2000.
