Tyler Perry Says The Bidding Process For BET Was ‘Disrespectful’

Tyler Perry

Tyler Perry Says The Bidding Process For BET Was ‘Disrespectful’

The behind-the-scenes drama that occurred during the bidding war for BET is coming to light.

As previously reported, earlier this year news broke that BET was on the market and a lot of media heavy hitters were lining up for a chance to own the network. In addition to 50 Cent, Diddy, and Byron Allen (reportedly) expressing interest in obtaining a majority stake in the BET Group – which includes BET, VH1, and the BET streaming service BET+ – Tyler Perry also made it very clear that he had his eyes on the popular entertainment company.

However, in August, Paramount Global ultimately decided not to sell BET after all because “a sale wouldn’t result in any meaningful deleveraging of its balance sheet.” Prior to having a change of heart, it was reported that the price tag reached upward of $3 billion.

Tyler Perry is no stranger to the ins and outs of BET – already having a minority stake in the network and BET+ – but reports surfaced claiming he “balked” at Paramount’s $3 billion asking price. Wednesday night (Oct. 18) Tyler Perry reportedly spoke on the potential purchase for the first time since BET was taken off the market and said,

“I was disappointed about it for a number of reasons. The way it happened was disrespectful in a lot of ways.”

While speaking at a Bloomberg summit on Black entrepreneurship at The Gathering Spot in Atlanta, he continued,

“Don’t try to get me to pay for something that’s not worth anywhere near the value” Paramount said it was.

Perry added,

“God bless them. I’m still working with them. I wish them the best.”

Tyler Perry

Perry will be just fine even without the majority stake in BET. The billionaire already has multiple shows on the network and movie deals with both Netflix and Amazon.

What are your thoughts on this entire situation? Tell us in the comments below! 

[VIA]