50 Cent won’t be adding “co-owner of BET” to his already expansive résumé.
Earlier this year, the rapper expressed interest in becoming a co-owner of the network. Fifty was even spotted with Kenya Barris at the New York City offices of Paramount (which also owns MTV and VH1). It was reported then that the pair, along with Shaquille O’Neal, were in talks to make an offer with the help of an investment firm.
It appears that a deal has fallen through, and BET’s price tag may have played a significant role in the outcome.
According to the New York Post, Tyler Perry submitted a bid last month to acquire BET (as well as streamer BET+, VH1, and BET Studios) for $2 billion, just short $1 billion of Paramount Global’s $3 billion asking price. Earlier this week, Paramount announced their decision to end bidding for BET, ultimately bringing the network’s sale to a full hault. Prior to the cancellation, Diddy, who owns the network Revolt, had intended to acquire a majority stake in BET to merge the two properties.
Now, 50 Cent is responding to reports that he wasn’t able to secure the amount of capital the conglomerate was seeking.