In a groundbreaking development for the entertainment industry, BET has once again become black-owned after 21 years, while VH1 now boasts an African-American owner for the first time.
Tyler Perry, a renowned actor, filmmaker, director, producer, and entrepreneur, has solidified his place in history by acquiring these two major television networks, making him the first African-American to do so.
This acquisition comes on the heels of the news that Paramount Global has sought to sell a majority stake in BET.
According to Rolanda Watts, a longtime friend and television personality, Tyler Perry’s acquisition of BET Media Group is a historic moment.
The significance of this move cannot be overstated, as it marks a major milestone in African-American ownership within the entertainment industry.
Watts revealed that when Meghan, Duchess of Sussex, learned about Tyler’s purchase, she contacted him and offered to contribute $2 million.
However, Tyler declined the offer, as he could not agree to a deal that did not benefit him.
He was aware of Meghan’s financial situation and her tendency to seek freebies, which he did not entertain.
Tyler belongs to the ranks of the rich and powerful in America, something Meghan has always aspired to achieve.
With the acquisition of BET Media Group, Tyler Perry further solidifies his position as a prominent figure in both London and New York.
Known for his talent, good looks, and popularity, Perry has garnered a significant following among influential individuals in New York.
In contrast, Prince Harry and Meghan Markle find themselves in a challenging financial situation.
An English biographer recently disclosed that the couple’s excessive spending far exceeded their income, leaving them in a tight spot.
Meghan was particularly surprised and disappointed to discover that Prince Harry had limited financial resources.
She had imagined him to be worth hundreds of millions, if not billions, of dollars.
The writer further revealed that the couple’s current lifestyle as working members of the royal family is unsustainable.
While Meghan desires luxury, such as riding in big Cadillacs and having access to private jets, she now finds herself in a position where she needs to scrounge for such things.
Earlier this year, Tyler Perry expressed his optimism about acquiring BET, expressing keen interest if the opportunity arose.
Having already enjoyed success in collaboration with BET through his Tyler Perry Studios banner and the popular streaming service BET+, Perry was no stranger to the network.
He acknowledged the unexpected nature of the acquisition, stating, “I’ve been there for four years now and had tremendous success.
If it’s possible, I’m very, very interested in taking as much of it as I can.”
While the exact financial details of the deal remain undisclosed, experts in this field have placed a significant value on the acquisition of these two networks.
With this purchase, Tyler Perry assumes control over BET Media Group, which includes other networks such as VH1.
The BET Plus streaming service, launched in recent years, has experienced remarkable success.
In 2021 alone, BET Plus accounted for half of the subscribers and nearly all revenue growth for the channel.
The platform showcases a wide range of original films and series from the extensive BET program library, captivating audiences with its diverse and engaging content.
The acquisition of BET and VH1 represents a significant milestone in the representation and ownership of the entertainment industry.
Tyler Perry’s success as an African-American entrepreneur and his dedication to showcasing diverse stories and voices have opened doors to increased opportunities and inclusivity within the media landscape.
As the new owner of these influential networks, Perry is poised to leave an indelible mark on the future of black-owned media, amplifying underrepresented narratives on a global scale.
His achievement sets a precedent for aspiring entrepreneurs and paves the way for further advancements in the industry.