Diddy Explains Why BET Must Be Black-Owned As He Looks To Acquire Network

As Sean “Diddy” Combs is surrounded by love from his family, he is also said to be in the running to buy BET. It’s simple to locate images of Diddy’s growing family of children on the media mogul’s social media profiles.

Love Combs, the proud father’s youngest daughter, was born last year, and he hasn’t stopped blogging about her. Among his family-friendly uploads this week, rumors arose that Combs was interested in becoming the new majority shareholder of BET Media Group. According to initial reports, Tyler Perry entered the race first, followed by Byron Allen.

According to Variety, BET Media Group’s parent company, Paramount Global, is looking to unload the network of brands, including BET, BET+, BET Studios, and VH1. The outlet claimed to have spoken with someone close to Diddy, who provided insight. Apparently, Diddy is “exploring the opportunity to purchase BET as a part of his strategy to build a Black-owned global media powerhouse.” A recent social media post from the Bad Boy hitmaker seems to support that statement.

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On Instagram, Combs shared a video of an explanation regarding why the BET needed to return to Black ownership. In the caption, he added, “Media is the most powerful industry in the world but it’s the industry where we have the least amount of ownership, influence and control! It’s time for @BET to be Black-owned again so we have the power to tell our own stories, control our own narrative! This is not about me it’s about WE!!!!”

“I’m building a team of leaders in the culture to pursue ownership in @BET together!” Diddy added. “We have to unify our power and resources to create real change! #THETIMEISNOW.” Variety further stated that their source revealed “many parties have expressed interest” in the acquisition. However, they claim Paramount Global has yet to entertain any offers. If Diddy reigns victorious, this will be another added accomplishment for the culture, as he has already launched Revolt. The platform has existed for a decade and has only increased in visibility across various creative mediums.

A Long History

It was also reported that Combs has a longstanding relationship with Paramount Global. That connection goes as far back as his MTV days with Making the Band which was a major success for diddy in the early to mid-2000s. Additionally, last year, he was bestowed the BET Lifetime Achievement Award. There have also been conversations within Hip Hop culture regarding a revamping of BET, and Bow Wow wanted in. Fans asked for another 106 & Park, or at least a revival, but those requests have fallen on deaf ears. It will be interesting to see how this develops, especially if Diddy is at the helm of the network.

 

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