Billionaire media mogul Tyler Perry didn’t mince words about his frustration with how executives at Paramount Global carried out the bidding process for the sale of its BET business.
In a candid expression of disappointment, Tyler Perry has voiced his discontent with the lack of transparency with the deal. Perry, along with other prominent figures such as Sean “Diddy” Combs and Byron Allen, had shown interest in acquiring a stake in the unit, which includes the BET channel, BET+, VH1, and BET Studios.
BET Sale Drama
In August, the studio conglomerate led by Bob Bakish took down its “for sale” sign on the unit.
“We made this decision because the benefits of maintaining a majority stake in BET Media Group creates more value for Paramount than any of the proposals we received,” a source close to Paramount told The New York Post Summer 2023.
Though Perry didn’t share many details on what transpired, he added, “Don’t try to get me to pay for something that’s not worth anywhere near the value.” Paramount claimed it was.
Bids that were put on the table ranged from $2 billion to around $3 billion, including Perry’s which was reportedly supported by Ariel Alternatives, as Finurah previously reported.
The Aftermath
Perry recently said he was not happy with the whole process.
During the Oct. 18 “Bloomberg Equality: An Evening with Tyler Perry” at The Gathering Spot in metropolitan Atlanta, he said, “I was disappointed about it for a number of reasons. The way it happened was disrespectful in a lot of ways,” Perry said, according to The Atlanta Journal-Constitution.
While he didn’t explain why he felt the process was disrespectful, he did add, “Don’t try to get me to pay for something that’s not worth anywhere near the value.”
When asked if he would reconsider if Paramount placed BET up for sale again, he said, “No.”
Currently, Perry maintains a minority stake in the BET+ streaming service and continues to provide content to Paramount programs, including BET and Nickelodeon, through a multiyear content partnership established in 2019. The media mogul remains a significant player in the production arena, operating his Tyler Perry Studios in Atlanta.
Perry conveyed his well-wishes to Paramount, saying, “God bless them. I’m still working with them. I wish them the best.”
If a deal had materialized, Paramount’s intention was to retain a minority stake in the business. This sale would have also provided the company with additional resources to focus on its primary streaming service, Paramount+, which currently boasts 61 million global subscribers. Paramount has been actively shedding assets, including book publisher Simon & Schuster, in a strategic move to concentrate on its core entertainment portfolio.
Basically, they didn’t want him and his team to have it. Something went down behind scenes that stopped that deal. Tyler, Allen, Combs that’s too much Black Power in the mix. Whomever the powers to be are, nicked that deal. They need to build their own platforms and basically just bleed them dry. We still think BET is Black and it’s not. Take everything away from them and watch em come crawling trying to get a piece of the actions or destroy them. Paramount got money from someplace else on the backend which allows them keep control and give that majority control to Black.men. See what they did Cosby when he wanted to b a major network they destroy him and tried to take his wealth with those allegations. Leave them white folks alone. Black Wall Streets were build by Black with Black dollars.
All speculation in the earlier comment. Perry was dead on in his comments, but also held back as to not burn bridges.
I will tell BET to not play the Player in the future. They were taught a lesson and they should take heed. Mr. Tyler was not to be played with! Period!!!!
DOES NOT WORK THAT…..
U ASK YOURSELF WHAT IS THE( EBITDA)
VALUATION OF IT ALL…IF TYLER PERRY
DECIDED TO PUT XTRA 1 BILLION HE WOULD
BEEN STRUGGLING TO TURN A PROFIT PERIOD
$2B ANOTHER $1B TOTAL $3B
THIS IS WHAT HAPPENED WITH MOTOWN
CORP BEING SOLD 1988 FOR $61,000,000.00
BY BERRY GORDY 60 YEARS OF OPERATION
TO BOSTON VENTURES….HELD MOTOWN 2 YRS
BV SOLD MOTOWN TO POLYGRAM CORP A
NETHERLANDS CONCERN FOR $300,000,000.00
THE PROFIT TO BOSTON VENTURES 2 YRS
WORK $239,000,000.00 PROFIT PLUS BACK
$61,000,000.00 TO BG SO 60 YEARS VS 2 YRS
TELL ME WHO MAKE OUT LIKE A BANDIT!!!
BERRY GORDY KNEW THEY WAS NOT GOING
GIVE HIM THAT TYPE OF MONEY!!!!
WITH TYLER IT WOULD HAVE BEEN REVERSED
OVER PAYING BY $1,000,000,000.00 COULD
THAT BE PROFIT TO THE GOOD OLD BOYS…
TYLER U HAVE NOTHING TO BE Disgruntled
ABOUT YOU SAVED YOURSELF FROM BURNING
Smart thinking Mr Perry.
Never give a square an even break.
It doesn’t add up.
Wise decision
I feel Tyler should take his movies . shows and start his own network. Hell I already pay for BET PLUS because I thought it was Tyler Perry
One thing I know for sure is,TP is no bodies fool. He been in the business ALL of his adult life and has created the BLUE PRINT FOR ESTABLISHING HIMSELF IN THE INDUSTRY. This is why he gave the middle finger to Hollywood and built his OWN industry which has proven to be the best move he’s made thus far. I have an idea of what needs to happen but we’ll wait and see how this plays out!
What needs to be done, Now that we know that it’s not Black owned and White owned, the people of all colors and genders need to support other networks, if the people stop shopping at that market, there will no longer be a market, Greed is the root under hand, shady, jealous
Individual’s (Point, Blank, Period……..
“What one has done for another yesterday will be done for oneself today.” MONIQUE
They can try try and try to plot on him but NO WEAPON FORM SHALL PROSPER CAUSE HES A CHILD OF THE MOST HIGH Heeeeeey🙌🏾🙌🏾🙌🏾🙌🏾
Mr. Perry, Please keep doing you !!!! Don’t fall for Shenanikans, The Lord has blessed you with the talent 2 succeed, don’t let nobody bring you down. Do your own like Oprah, we got you, where you go we following.
Mr. Perry sir, you,Mr. Allen,MrCombs, and Miss Oprah, Labron ,Jay Z, maybe a few more ,Mr. Jordan, should come together,and create the largest Monority owned Production conglomerate in the world, let them have to come you, we need to stop going to them, Time has come, ” Saith the LORD”..it’s over…GOD BLESS..
Follow GOD Mr. Perry follow GOD!
Mr. Perry
You keep doing you, because thus far
It has worked extremely well for you.
You have and always will have our support!
God bless you.
Bet is treating Tyler Perry unfairly. Our nationality should banned BET if they continue to discriminate and be disrespectful.
Mr. Perry, U DO NOT NEED these people. Play 2 your strengh by putting people on your team with like minded strengths. Go around Paramount. Build above them. Remember, the Greater One is in U! ‘Nuff said. Penny V. Brown
Mr Perry you the.best keep your faith in GOD an not in man .You got this far by GOD faith an your mother love an respect with good
home discipline I love you.My bigger dream is to meet u in person.I know it impossible for that to come true.May God always bless you an wht you done to help other.
all this means is God has got even bigger plans for him.bigger than bet.
Mr. Perry, I thank God for the wisdom he has
given you, just like Solomon. Keep looking unto
the hills from which cometh your help. I know
you know your help comes from the LORD! Amen!
Hallelujah!!! Thank you Jesus!!! God Bless You!!!
You have established yourself as an astute businessman keep yourself focused on the God who carried you through. I believe there’s a group of men out there who can come together and make it happen
Remain Bless when are blessed, no one can touch a child of GOD stay under the Blood of GOD.
Mr Perry keep your wisdom clothes on night and day with a rest popsicle and enjoy life and keep on trusting Holy Spirit 🙏 love you ❤️ Mr Perry you in my prayers 🙏
May God continues to bless you. Those folks to not have any creativity left. Look at the boring shows that’s on TV.
That should tell us something. Pay attention!!
Tyler Perry should do his own production Tyler there is a bigger vision and I know you are a visionary you can make it happen
Tyler Perry I have been watching you grow and have all your movies and plays. I know you are a child of God and no one can stop a child of God. Keep doing you and this world will see you grow into the Mobil Billionaire and they will in the end come to you. Said, Written and Done!
You are the best . Always keep that up.God will continue to Bless and keep you in his loving arms. You are brave . BTyler Perry one of the top business executives. God Bless. You did the right thing. Love you. Ms. Queen O.
Black King And Queens pull together. Mr. King Tyler Perry himself with all other Black King And Queens shall be there for you. Right Blackness. We now know BET is not own by Black King And Queens People. Like said who died for us. Edgar himself. DON’T watch BErinprograms to Oprah till Mr. King himself, Tyler PerBE
makes a way with The other Black King And Queens and spread the word all over Spectrum and all Cable Channels. Blackness let help out King And Queens Build Their Kingdom from our eyes and ears and hands. I support you Mr. King. I been their. Jenny Craig made millions of of me. In the early 90 this. Pray it happens. Love you.
Sorry for misspelled words. Let’s support our Blackness.
Well my advice to Tyler Perry is build your own network like Black Wall Street. Stop relying on these white people putting it kindly to serve you breakfast in bed. We black! We don’t need white billionaires telling us what to do and commanding us like we some house niggas ”F” em! We build this country with blood sweat tears and pain and the least we can get is another black wall street type mindset.
To all the black people: build your own! Invest in your own communities! Stop depending on white backings coz they’re the devil. Take a page from what Detroit is doing with their businesses.