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The company believes BET, an entertainment brand focused on the Black community and culture, would attract substantial interest from Black investors or institutions, the source said.
Paramount hopes to maintain a minority stake to benefit from any value that might be unlocked by the transaction.
Previously, the media company partnered with the actor and filmmaker Tyler Perry to launch the BET+ subscription service in 2019, and he retains a minority stake. It also formed BET Studios through a partnership with “Black-ish” creator Kenya Barris, actress Rashida Jones and “S.W.A.T” co-creator Aaron Rahsaan Thomas.
The Wall Street Journal first reported that Paramount was exploring a possible sale.
