29 Jun FORBES: From Tyler Perry To Byron Allen, Here’s How The Bid For BET Shakes Up Media

The potential disposition of Black Entertainment Television (BET) and VH1 by Paramount Global has been a topic of much speculation in the entertainment industry. While there is yet to be any official confirmation pointing to tangible financial terms or acquiring parties involved, in the spirit of speculation, let us delve into the possibilities and implications of these networks changing hands.

Background

When Viacom acquired BET for more than $2 billion at the turn of the millennium, it not only marked a significant milestone in the media industry but also made BET’s founder, Robert L. Johnson, the first African-American billionaire in the United States. However, the cable network industry has since greatly struggled with the trend toward cord-cutting and streaming services, leading to a decline in viewership and profitability. As a result, cable network deals have become a rarity in recent years and valuations have drastically decreased.

Paramount Global, now the parent company of Viacom, has recently begun exploring the possibility of selling a major stake in BET and its sister network, VH1.

A Constellation of Potential Buyers

Who will be the buyer? Will it be a media conglomerate seeking to expand its portfolio or a competing network moving strategically to consolidate market share or secure access to a new demographic?

While all conventional means of transacting a network, the current media and television landscape has been disrupted immensely – making now an excellent time to break from the norm. And how exactly does one break convention in the case of a deal of this magnitude? By attracting potential buyers whose names, expertise and track records rise to the occasion of turning around a long-struggling, but culturally meaningful, set of networks.