{"id":169016,"date":"2023-08-19T12:07:53","date_gmt":"2023-08-19T06:37:53","guid":{"rendered":"https:\/\/centralrecorder.com\/tyler-perry-loses-out-on-bid-for-major-tv-network\/"},"modified":"2023-08-19T12:09:27","modified_gmt":"2023-08-19T06:39:27","slug":"tyler-perrys-bid-for-major-tv-network-loses-out","status":"publish","type":"post","link":"https:\/\/centralrecorder.com\/tyler-perrys-bid-for-major-tv-network-loses-out\/","title":{"rendered":"Tyler Perry’s Bid For Major TV Network Loses Out"},"content":{"rendered":"
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Perry’s bid was less than the Network’s $3 billion price tag.<\/p>\n<\/p><\/div>\n
Tyler Perry’s\u00a0attempt at acquiring BET has officially come to an end. His bid did not meet\u00a0Paramount’s expectations, as it was short of the network’s asking price of $3 billion, which he did not meet. The deal fell through because, according to sources, Paramount could not find an appropriate partner who would be willing and able to pay a large sum of money while aligning their goals with the corporation’s. Sources claim that the playwright was the ideal candidate, but did not accept and bid only $2 billion.\u00a0The Blast<\/a>.\u00a0<\/em>The sale of BET was initiated earlier this summer. This includes cable channels VH1, BET and BET+. The auction attracted bids from a number of interested parties including the Emmy-winning winner. However, none were able to reach the asking price of $3 billion. An insider said that Paramount wasn’t looking for someone to provide money without the mindset of running the company. According to a source, Paramount was looking for someone who could provide the money without having the right mindset to run their company.\u00a0The New York Post<\/em><\/a>\u00a0The film distribution and production giant hoped to reach a settlement that would transfer the asset from White ownership to Black. In order to do so, the company sought out a party that would “be a good partner” and “steward of assets and mission.”\u00a0<\/p>\n Over the last few weeks, the company has been trying to get the filmmaker to increase his bid. The filmmaker who owns 25% of BET’s streaming services, however, was steadfast in his offer. Media mogul Byron Allen was the late bidder, with a bid of nearly $3 billion.\u00a0 Sources claim that Paramount did not like his bid because they didn’t have any substantive talks with Allen, who is 62. Insiders said that Paramount was concerned about Byron Allen’s lack of “committed financing.” Perry refused to accept the bid price, and neither did the high bidder. As a result, the auction had to be canceled. According to the source, Paramount Global subtly informed all bidders late on Wednesday of its cancellation. The insider stated that Paramount made the decision to keep a majority share in BET Media because it was more valuable than the other proposals.<\/p>\n #TylerPerry<\/a> Reports suggest that Will Take Over Major TV Networkhttps:\/\/t.co\/DldYxKWU5o<\/a><\/p>\n\n