Paramount Stock Rises Over 5% Amid Renewed BET Network Sale Talks [Yahoo! Finance]
Warner Bros. Discovery, Inc. - Series A (WBD)
Company Research
Source: Yahoo! Finance
that includes BET CEO Scott Mills and Chinh Chu, founder and senior managing director of the New York-based private equity firm CC Capital. Bloomberg noted that the group, which previously discussed an offer just under $2 billion back in December, is now looking to offer between $1.6-$1.7 billion, citing sources familiar with the matter. Representatives for Paramount and CC Capital declined to comment. Mills did not immediately return TheWrap's request for comment. The renewed effort to sell the Black Entertainment Television network comes after Paramount backed off talks in August 2023 to sell its majority stake. At the time, the company had received interest from Tyler Perry, Allen Media Group founder Byron Allen and Miami-based media company Group Black. Perry publicly criticized the previous bidding process , calling it “disrespectful” at an event hosted by Bloomberg in October. BET was first launched in 1980 by founder Robert Johnson as a channel specifically aimed at Bla
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