2023-06-20 16:30:51 ET
- Paramount Global's ( NASDAQ: PARA ) sale of BET may be in trouble as the likely leading bidder is balking at the sale price.
- Media Mogul Tyler Perry is said to have offered a little less than $3 billion for BET Group, which includes cable channels BET and VH1, according to a NY Post report, which cited a person familiar with the matter. Paramount wants to get more than $3 billion, or about 10x the BET Group's current $325 million in EBITDA.
- Media mogul and weather channel owner Byron Allen is said to be in the bidding for BET, according to the NY Post. Final bids are due in mid July.
- The WS reported in March that Paramount ( PARA ) was exploring selling a controlling stake in BET Media Group.
For further details see:
Paramount sale of BET may be in doubt as asking price too high - report