Paramount Global Considers Sale of BET to Byron Allen or Management-Led Group

Sale discussions occur amidst potential merger talks between Paramount Global and Warner Bros. Discovery.

Byron Allen has made a renewed bid of $3.5 billion to acquire BET Media Group from Paramount Global.
Paramount Global is also in talks to sell BET to a management-led investor group, which includes BET CEO Scott Mills and Chinh Chu of CC Capital Partners.
The potential sale price discussed with the management-led group is a little under $2 billion.
Paramount Global had previously considered selling BET earlier this year, but dropped the idea after failing to receive satisfactory bids.
The sale discussions are happening amidst potential merger talks between Paramount Global and Warner Bros. Discovery.