Diddy has confirmed his intention to add the BET (Black Entertainment Television) network to his media empire.
Earlier this week, Variety reported the Revolt owner was in the running to acquire a majority stake in BET Media Group. A source stated that Diddy is considering the purchase “as a part of his strategy to build a Black-owned global media powerhouse.”
Then, on Wednesday (Mar. 15), the NYC icon took to Instagram to confirm the reports, announcing he’s assembling a team to “pursue ownership.”
Diddy shared a video explaining BET should move from Paramount Global’s CBS Entertainment Group into the hands of Black owners.
“Media is the most powerful industry in the world,” Diddy began his post. “But it’s the industry where we have the least amount of ownership, influence and control! It’s time for @BET to be Black-owned again so we have the power to tell our own stories, control our own narrative! This is not about me it’s about WE!!!!”
However, the entertainment mogul isn’t the only entrepreneur vying to buy BET. Tyler Perry Studios owner Tyler Perry and Entertainment Studios owner Byron Allen are also said to be in the running.
Diddy revealed he is “building a team of leaders in the culture to pursue ownership in BET together!”
The Billionaire businessman believes unity is needed to achieve a significant transformation in the media. “We have to unify our power and resources to create real change! #THETIMEISNOW,” he concluded. Check out his post below.