In a major development for the entertainment industry, BET has become Black-owned once again after 21 years, while VH1, for the first time, now also boasts an African American owner.
According to his longtime friend and television personality Rolanda Watts, Tyler Perry has cemented his place in history by acquiring the two major television networks, making him the first African American to do so.
The acquisition follows the news that Paramount Global has sought to sell a majority stake in BET.
Earlier this year, the renowned actor, filmmaker, director, producer and entrepreneur expressed optimism about purchasing BET, stating his keen interest if it were a possibility.
Perry, who had already enjoyed success in collaboration with BET, partnering with his Tyler Perry Studios banner to create the popular streaming service BET+, was no stranger to the network.
He acknowledged the unexpected nature of the acquisition, stating, “I’ve been there for four years now and had tremendous success. … If that is possible, I’m very, very interested in taking as much of it as I can.”
The exact financial details of the deal have not been disclosed, but experts on this sort of transaction have placed a significant value on the acquisition of the two networks.
With the purchase, Perry assumes control over BET Media Group, which includes other networks such as VH1.
Since its launch, the BET+ streaming service has experienced remarkable success. In 2021 alone, BET+ was responsible for half of the subscribers and nearly all revenue growth for the channel.
The platform features a wide range of original films and series from the extensive BET program library, captivating audiences with diverse and engaging content.
The acquisition of BET and VH1 marks a significant milestone in the representation and ownership of the entertainment industry.
Perry’s success as an African American entrepreneur and his commitment to showcasing diverse stories and voices have paved the way for increased opportunities and inclusivity in the media landscape.
As the new owner of these influential networks, Perry is poised to leave an indelible mark on the future of Black-owned media and further amplify underrepresented narratives on a global scale.
Could have happened for a better man ! Congratulations Mr. PERRY ! THE SKIES ARE UR LIMIT !!!!
I believe Bet new owner should read People by Grate Vine and make a movie.
I’m so proud of Mr Tyler Perry’s accomplishments in the media industry. It’s about time that someone of black America has made example of What to do. This is major and there’s no turning back from here. Thanks to Mr. Perry and of course Oprah Winfrey they are trailblazers in showing the way.
Congratulations! When we go, as the chosen people to Yah’s Kingdom you can be in charge of our nation’s media communications!
Congratulations to the underappreciated Tyler Perry. This acquisition is important in the media world because it’s being done by someone who actually knows the TV & Film industry on every level.
Those who have purchased his books, movies, attended his business meetings or invited him as a guest speaker should be commended as well.
My brother David Shands founder of Sleep is For Suckers has been noted to be a panelist of philanthropic members, inclusive of Mr. Perry, on a distinguished event concerning building up your own business(es).
It was amazing to see youth of predominantly African Americans attending the said particular event.
* Be Blessed and Not Stressed
– Tonya Anderson-Shands
Congratulations! With God’s blessing everything is possible.
Tyler I am so happy for you me and my daughter love us so Tyler Perry God bless.
God Bless You I am so Godly proud of you.I remember standing in line in Auortium in Austin believing God with you.I stop buying bootleg tapes,bought tickets to every play and movie.I needed God to prosper You because you put it all on the line for our Amazing God you are loved and admired in Jesus name.
Dear Mr Perry,
What an instrument of inspiration you are to me. I was born in the UK and am so in awh of you and you go from strength to strength. I am so excited for the future of media in your hands.