Tyler Perry’s final bid for BET falls sorely short of $3B asking price: sources Kevin Fleming July 29, 2023 Entertainment, TV News Tyler Perry months ago was confident he would acquire the BET Network, but now he is waiting on Shari Redstone, sources said.NBCU Photo Bank via Getty Images Nevertheless, it’s not clear whether Allen — who has amassed a media empire that includes the Weather Channel — currently has enough financing to complete the deal, multiple sources said. Paramount’s asking price amounts to roughly 10 times the BET Group’s current $325 million in Ebitda, or earnings before interest, taxes, depreciation and amortization, sources said. But BET Group’s future profits are at risk as cord-cutting continues to hammer the ranks of US cable subscribers. Paramount wanted to see committed financing when final bids came in July 19, sources said. Paramount boss Shari Redstone — whose father Sumner Redstone paid $2.7 billion for BET in 2000 when the media empire still operated under the Viacom banner — is expected to decide whether to accept or reject the lowball offers in the coming days. “This is a dysfunctional company. Nothing they do surprises me,” a source close to the process said. Perry, Allen and Paramount did not return calls for comment. Courtesy NYPost.com Related
