Tyler Perry recently voiced his disappointment with the way Paramount Global managed the potential sale of a majority stake in its BET business. In August, Paramount had considered selling the unit, which encompasses the BET channel, streaming service BET+, VH1, and BET Studios, garnering interest from various potential buyers, including Perry, Sean “Diddy” Combs, and Byron Allen. However, the sale was ultimately halted, and Perry has now shed light on the process during a Bloomberg Equality Summit in Atlanta.
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Perry’s criticism was clear as he shared, “I was disappointed about it for a number of reasons. The way it happened was disrespectful in a lot of ways.” While he didn’t delve into specific details, he emphasized that he was unwilling to pay for something that didn’t align with Paramount’s valuation.
“If you’re going to approach business with anyone, approach it like you do with everyone. Don’t try and make me pay a value for something that’s not worth anywhere near the value that you’re asking. – Tyler Perry
When asked if he would reconsider purchasing BET if it were put up for sale again, Perry firmly replied, “No.” Nevertheless, he still maintains a minority stake in the BET+ streaming service and continues to provide content for Paramount programs through a multi-year content partnership established in 2019. Perry’s influence in the entertainment industry is significant, with his Tyler Perry Studios in Atlanta playing a pivotal role.
In the initial sale, Paramount had expected to retain a minority stake in the business, which would have provided the company with more resources to focus on its primary streaming service, Paramount+, with 61 million global subscribers.
Paramount has been streamlining its portfolio by divesting assets, including Simon & Schuster, to concentrate on its core entertainment offerings.
Despite the fallen bid, Perry’s career is not lacking anything. He recently inked a first-look deal with Netflix. He also has five projects in the works on Netflix and Prime Video.