Paramount Global considers selling majority stake of BET Media Group, sources say

Paramount Global is exploring a sale of a majority stake in BET Media Group, which includes BET's cable network and studio, BET+ and VH1.

Paramount executives believe selling the business to a consortium of wealthy Black investors and institutions may unlock opportunities and value, sources say. A sale, which may not happen, is not suggestive of a broader strategy to sell Paramount in pieces, sources say.Shari Redstone, chairwoman of ViacomCBS and president of National Amusements, and Bob Bakish, President and CEO of ViacomCBS, celebrate their company's merger at the Nasdaq MarketSite in New York, December 5, 2019.

Paramount executives believe BET may be particularly valued by a consortium of wealthy Black individuals and institutions, which could unlock value for the media asset in ways that are more difficult under its current corporate ownership, said the people, who asked not to be named because the discussions are private.Talks are in early stages and no deal is assured, said the people. A Paramount spokesperson declined to comment.

Selling a majority stake in BET Group would allow Paramount Global to get added capital to spend on programming for Paramount+ and Pluto TV, its free ad-supported streaming service. Paramount Global said its streaming business lost

Boycott Tesla

Getting some $$$ for WWE purchase?

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Paramount Global Exploring Sale Of Majority Stake In BETParamount Global is in early exploratory talks to sell a majority stake in BET Media. The company has been pretty clear about its desire to explore opportunities to raise cash, including an attempt… Er... Bet+ should merge with Paramount+. Paging tylerperry
Source: DEADLINE - 🏆 109. / 63 Read more »

Paramount stock reverses higher after WSJ report media company was looking into selling bulk of its BET Media GroupShares of Paramount Global jumped 0.6% in midday trading, reversing an earlier loss of as much as 0.7%, after The Wall Street Journal reported that the mass... PARA didn't do anything but sink when I owned it.
Source: MarketWatch - 🏆 3. / 97 Read more »

Airbnb security cameras are a hot-button issue.Insider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Reality TV star who posted video on OnlyFans jailed for almost 2 yearsA reality TV star who posted an explicit video of him and his ex-girlfriend on OnlyFans without her permission was jailed for almost 2 years
Source: BusinessInsider - 🏆 729. / 51 Read more »