Near-billionaire Byron Allen has returned to the negotiating table with Paramount Global to buy BET Media Group.
This time, Allen, who owns a conglomerate that includes multiple TV stations and news outlets, has tendered an offer to the owners of $3.5 billion to take BET off their hands, Variety reports.
BET was founded by Robert “Bob” Johnson in 1980. The network provided multifaceted programming for Black audiences. In 2001, Johnson sold the cable channel to Viacom for $3 billion.
Currently, BET Media Group includes the BET cable channel, VH1, BET Studios and the streaming service BET+.
This represents the second time that Allen is trying to add BET to his already mammoth number of acquisitions of networks and stations. Earlier this year, Allen was competing with the likes of Tyler Perry, “Black-ish” sitcom creator Kenya Barris, and the partnership of Shaquille O’Neal and 50 Cent, all of whom tried to lift the Black-centric station off of Paramount’s hands. At that time, Allen offered $2.7 billion.
This is far from the only major move that Allen is attempting, according to MSN.com. In September, the business baron made a $10 billion offer to buy ABC, eight local TV stations, FX and National Geographic Channel, which are currently owned by Disney. However, Disney CEO Bob Iger informed Allen that their networks are “not for sale.”
Despite that setback, Allen has plenty on his plate, to say the least. Allen Media Group, MSN.com reports, “owns 12 cable networks, including the Weather Channel, JusticeCentral.TV, Cars.TV and Pets.TV. AMG also owns a theatrical movie distribution company and a stable of 28 broadcast stations affiliated with the Big Four broadcast networks (ABC, CBS, Fox and NBC). Allen Media Group also produces, distributes and sells advertising for 73 television shows.”
