Byron Allen Resubmits $3.5 Billion Bid For Paramount Global’s BET, VH1
deadline.comDeadline has confirmed that Byron Allen is taking another run at BET Media Group in a $3.5 billion bid sent to Paramount Global for BET and VH1.
The offer followed a report that Paramount is in talks to sell BET to a management-led investor group. Paramount put BET Media Group fielded offers for BET earlier this year, receiving bids from Allen, Tyler Perry and others, but took it off the table after determining that the offers weren’t high enough.
During an event in Atlanta, Perry said that he wasn’t a fan of the process. “I was disappointed about it for a number of reasons.
The way it happened was disrespectful in a lot of ways,” he said, according to The Atlanta Journal-Constitution. Allen is said to have resubmitted his bid when he learned of the potential deal with BET CEO Scott Mills and Chinh Chu, a former Blackstone executive who runs New York-based CC Capital Partners.
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