Paramount Global considers selling majority stake of BET Media Group, sources say
Publishing timestamp: 2023-03-06 14:04:28
Summary
Paramount Global is considering selling a majority stake in BET Media Group, which includes BET's cable network and studio, BET+ and VH1. Talks are in early stages and no deal is assured. Paramount Global recently rejected a $3 billion deal for its premium cable network Showtime. Selling majority stake in BET Group would allow Paramount Global to get added capital to spend on programming for Paramount+ and Pluto TV. Paramount Global wants to maintain minority stake in BET Media Group so it can continue to have commercial relationship with company.
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Keywords: breaking news: business, business news, entertainment, business, technology, media, paramount global,
Source: https://www.cnbc.com/2023/03/06/paramount-bet-media-majority-stake-sale.html