Old photographs hold priceless memories, capturing moments from the past that are dear to our hearts. However, the ravages of time can take a toll on these precious images, leaving them faded, scratched, and damaged. Luckily, with cutting-edge AI-powered technology, VanceAI has come to the rescue. Meet VanceAI Photo Restorer and VanceAI Photo Colorizer, two…
Paramount Global has pulled out of a deal to sell BET Media Group to renowned filmmaker Tyler Perry.
According to The Wall Street Journal, Paramount announced that they had ended the bidding process, which would have included VH1 and BET Studios, streamer BET+ and the BET channel —because “a sale wouldn’t result in any meaningful deleveraging of its balance sheet.”
Paramount Global had received bids ranging from approximately $2 billion to $3 billion. Perry’s potential ownership would have made BET Black-owned again after 21 years, while VH1, for the first time, would have boasted an African American owner for the first time. Earlier this year, Perry’s longtime friend Rolanda Watts, proclaimed that he cemented his place in history by acquiring the two major television networks, making him the first African American to do so.
However, others including Roland Martin said the story wasn’t true, that a deal had not been reached.
The renowned actor and filmmaker previously expressed optimism about purchasing BET, stating his keen interest if it were a possibility.
Perry, who had already enjoyed tremendous success in collaboration with BET, partnering with his Tyler Perry Studios banner to create the popular streaming service BET+, was no stranger to the network.
He acknowledged the unexpected nature of the potential acquisition, stating, “I’ve been there for four years now and had tremendous success… If that is possible, I’m very, very interested in taking as much of it as I can.”
The exact financial details of the deal have not been disclosed, but experts on this sort of transaction have placed a significant value on the acquisition of the two networks.
Since its launch, the BET+ streaming service has experienced remarkable success. In 2021 alone, BET+ was responsible for half of the subscribers and nearly all revenue growth for the channel.
The platform features a wide range of original films and series from the extensive BET program library, captivating audiences with diverse and engaging content. The acquisition of BET and VH1 would have marked a significant milestone in the representation and ownership of the entertainment industry.
Perry’s success as an African American entrepreneur and his commitment to showcasing diverse stories and voices have paved the way for increased opportunities and inclusivity in the media landscape.
The Madea star currently owns a minority stake in BET and also produces a large portion of the programming available on BET and BET+
As the sun-drenched streets of Harlem come alive with the spirit of celebration, there’s a date marked on calendars that’s poised to be a highlight of the season. The Harlem Week outdoor festival, a grand spectacle of culture, camaraderie, and creativity, is set to paint the town with an array of experiences that are as…
The wildfires that have engulfed the Hawaiian island of Maui is the latest natural disaster to tug at the nation’s heartstrings. Not only have there been dozens of deaths, many people have lost everything. You can be sure that scammers have already jumped into the game, hoping to benefit from Americans’ goodwill. So ConsumerAffairs did…
Maintaining a clean and organized home from Harlem to Hawaii is essential for our well-being and peace of mind. However, the thought of tackling a full-scale house cleaning can often be overwhelming, leaving many of us wondering where to begin. The good news is that with a few expert tips and tricks, you can transform…
Being distinctive from the crowd is more crucial than ever in the digital age. Having a strong brand is essential for building trust with your customers and increasing recognition of your business or product in target markets. Crafting and managing an effective brand can be daunting if you’re unsure of how to get started –…
On Sunday, August 20th, 2023, the GATW Paper Fashion Show previews, “Walk the Streets of Harlem” with models walking from 180 West 135th Street in Harlem to the Metro Plus booth at 3 pm. The walk continues toward 7th Avenue. Mrs. Randolph with support from Metro Plus will be sharing samples of Paper Fashion which will be featured…
Today, Governor Hochul signed the “Save the Hudson” bill (A7208/S6893), which prohibits dumping radioactive waste from decommissioning nuclear plants into the Hudson River. The legislation passed both the Assembly and Senate (unanimously) in June. The legislation is expected to stop Holtec International’s planned dump of more than one million gallons of toxic radioactive wastewater from…
NYC Health + Hospitals today announced three of its leaders were recognized as “Power Players in Diversity, Equity, and Inclusion” by PoliticsNY. The leaders are Simran Kaur, Chief People Officer at MetroPlusHealth; Ivelesse Mendez-Justiniano, Vice President and Chief Diversity, Equity, and Inclusion Officer at NYC Health + Hospitals; and Roger Milliner, Chief Growth Officer at…
This Sunday, August 20th, at 1 pm EST, HARLEM WEEK will come alive with an unforgettable celebration as Mayor Adams joins hands with the Greater Harlem Chamber of Commerce and WBLS. They do this at the St. Nicholas Avenue Main Stage to present the Key to the City to the family of the late Harry Belafonte,…
