April 24, 2024

Diddy Explains Why BET Needs To Be Black-Owned As He Vies To Purchase Network

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As Sean “Diddy” Combs encircles himself with love from his family, he’s also rumored to be in the running to purchase BET. If you visit the media mogul’s social media pages, it’s easy to find photos of Diddy’s growing brood of children. The latest addition arrived last year, and the proud father hasn’t ceased posting about his youngest daughter, Love Combs. Amid his family-friendly uploads, gossip circulated this week that Combs was interested in becoming the new majority stakeholder of BET Media Group. Initially, reports stated that Tyler Perry threw his hat in the ring, followed by Byron Allen.

According to Variety, BET Media Group’s parent company, Paramount Global, is looking to unload the network of brands, including BET, BET+, BET Studios, and VH1. The outlet claimed to have spoken with someone close to Diddy, who provided insight. Apparently, Diddy is “exploring the opportunity to purchase BET as a part of his strategy to build a Black-owned global media powerhouse.” A recent social media post from the Bad Boy hitmaker seems to support that statement.

Diddy Enters The Chat

On Instagram, Combs shared a video of an explanation regarding why the BET needed to return to Black ownership. In the caption, he added, “Media is the most powerful industry in the world but it’s the industry where we have the least amount of ownership, influence and control! It’s time for @BET to be Black-owned again so we have the power to tell our own stories, control our own narrative! This is not about me it’s about WE!!!!”

“I’m building a team of leaders in the culture to pursue ownership in @BET together!” Diddy added. “We have to unify our power and resources to create real change! #THETIMEISNOW.” Variety further stated that their source revealed “many parties have expressed interest” in the acquisition. However, they claim Paramount Global has yet to entertain any offers. If Diddy reigns victorious, this will be another added accomplishment for the culture, as he has already launched Revolt. The platform has existed for a decade and has only increased in visibility across various creative mediums.

A Long History

LOS ANGELES, CALIFORNIA – JUNE 26: Honoree Sean ‘Diddy’ Combs (C) accepts the BET Lifetime Achievement Award from Babyface (L) and Kanye West (R) onstage during the 2022 BET Awards at Microsoft Theater on June 26, 2022 in Los Angeles, California. (Photo by Leon Bennett/Getty Images for BET)

It was also reported that Combs has a longstanding relationship with Paramount Global. That connection goes as far back as his MTV days with Making the Band which was a major success for diddy in the early to mid-2000s. Additionally, last year, he was bestowed the BET Lifetime Achievement Award. There have also been conversations within Hip Hop culture regarding a revamping of BET, and Bow Wow wanted in. Fans asked for another 106 & Park, or at least a revival, but those requests have fallen on deaf ears. It will be interesting to see how this develops, especially if Diddy is at the helm of the network.

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