Media mogule Byron Allen is taking another swing at BET Media Group, offering $3.5 Billion to Paramount Global in a renewed attempt to acquire the Black culture-oriented cable channel, TheWrap has confirmed.
Paramount Global began exploring the sale in March, part of an effort to generate cash in support of Paramount+, but the company backed away from that plan in August, when it informed bidders the sale wouldn’t generate a significant enough amount of money.
More to come…
The post Byron Allen Offers Paramount $3.5 Billion in Renewed Bid for BET appeared first on TheWrap.
