Bryon Allen is reportedly looking to try and buy BET again for $3.5 billion. If you recall, Allen, Tyler Perry, and Diddy were all in the running to try and purchase the media group.
According to Deadline, Allen reportedly sent an email showing his interest by saying, “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.”
As we previously reportedly, Tyler Perry previously spoke out about his experience trying to buy BET from Paramount Global and referred to the process as disrespectful. “I was disappointed about it for a number of reasons,” Perry said at Bloomberg’s Equality Summit per a report from The Atlanta Journal-Constitution (AJC). “The way it happened was disrespectful in a lot of ways.”
He continued, “Don’t try to get me to pay for something that’s not worth anywhere near the value.” Perry also “gave a firm no” when he was asked about his interest in securing ownership of BET if it goes up for sale again. “God bless them. I’m still working with them. I wish them the best,” Perry went on to say per AJC reported.
BET was founded by Robert L. Johnson, an entrepreneur and visionary who saw the need for a television network that would showcase the diverse talents and stories within the black community. On January 25, 1980, BET made its debut as the first cable television network devoted to black programming.
At its inception, BET faced numerous challenges and skeptics who doubted its ability to succeed. However, Johnson’s determination and belief in the power of black representation propelled the network forward. Initially, BET focused primarily on music videos and entertainment programming, featuring a wide range of genres, from R&B and hip-hop to gospel and jazz.
As the years went by, BET expanded its programming to include original shows, news segments, documentaries, and specials that highlighted the experiences and achievements of African Americans. The network quickly became a cultural hub, showcasing the talents of emerging black artists and providing a platform for important discussions on social issues affecting the black community.
One of the most significant milestones in BET’s history came in 1989 with the launch of the annual BET Awards. This star-studded event honors the accomplishments and contributions of black entertainers in various fields, including music, film, and sports. The BET Awards has become a highly anticipated celebration of black excellence, showcasing the achievements of artists who have often been overlooked by other award shows.