Tyler Perry wasn’t happy with the way Paramount Global handled the bidding process for its majority stake in BET.
On Wednesday (October 18), Perry appeared at the Bloomberg Equality Summit in Atlanta, where he discussed the behind-the-scenes of the potential purchase, per the Hollywood Reporter.
“I was disappointed about it for a number of reasons,” the mogul said of the potential sale. “The way it happened was disrespectful in a lot of ways.”
Perry’s comments come after Paramount Global explored selling its majority stake in BET Media Group, which includes BET, BET+, and VH1, earlier this summer. According to reports, Perry, Diddy, Byron Allen, and a team including 50 Cent, Shaq, and Kenya Barris were among the bidders interested in purchasing the media group.
Paramount Global reportedly set an asking price of $3 billion for the media group. According to reports, Perry, who already owns a 25 percent stake in BET+, submitted a $2 billion bid for the majority stake. Paramount reportedly pushed Perry to up his offer, but he declined.
Paramount was reportedly looking to “return the asset to Black ownership” with a “party that could be a good partner and responsible steward of the assets and the mission” through the purchase but came up short. The company moved to end the bidding process for the majority stake in August.
On Wednesday, Perry seemingly commented on Paramount’s asking price.
“Don’t try to get me to pay for something that’s not worth anywhere near the value,” Perry said.
When asked if he would consider buying BET if Paramount put it up for sale again, Perry said “No.”
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