Paramount Global is reportedly considering selling a majority stake in BET Media Group, which would also mean a sale of the BET and VH1 channels as well as the BET Plus streaming service.
Paramount has been making a number of changes of late with the most public being the combining of Paramount Plus and Showtime into a single subscription service. With the company’s focus seemingly on Paramount Plus and its ad-supported Pluto streaming service, it is not surprising that there has been some talk regarding the other channels and services owned by Paramount Global.
The latest of which is that the company is now considering remaining a stakeholder in BET Media Group, but a minority holder. According to The Wall Street Journal, citing “people familiar with the situation”, Paramount has already had talks with actor and producer Tyler Perry over the possibility of a sale. Tyler Perry is already a minority stakeholder in BET Plus through Tyler Perry Studios.
In spite of the talks, a deal does not appear to have been agreed yet, and the company appears to be open to talks with other buyers as well, according to CNBC, also citing “people familiar with the matter” for the information.
For reference, one of the main reasons given for the new ‘Paramount+ with Showtime’ combined plan was to lower costs and streamline its streaming portfolio, especially at a time when the market is teaming with options. A full or part-sale of some of its other properties is highly likely to be the result of the same cost-cutting and streamlining strategy.