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Jon Lafayette

Paramount Tells Bidders Possible Sale of BET Media Group Is Off

LOS ANGELES, CALIFORNIA - JUNE 25: Kid Capri performs onstage during the BET Awards 2023 at Microsoft Theater on June 25, 2023 in Los Angeles, California.

Paramount Global has informed companies bidding for its BET Media Group that it is no longer interested in selling a majority stake in the unit.

Paramount received unsolicited interest in BET Media Group, which includes BET, BET Plus, BET Studios and VH1, earlier this year and retained financial advisers to evaluate offers, according to a source familiar with the process.

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