BET Networks

Black Entertainment Television LLC (doing business as the BET Media Group, and formerly known as BET Networks) is an American television company currently owned by American media conglomerate Paramount Global under its CBS Entertainment unit. Founded by Robert L. Johnson in 1983, the holding was bought by the first incarnation of Viacom in 2001. BET owns networks aimed at African Americans, including BET and its related sister channels. It also operates BET+, with Robert L. Johnson also founding AMC Networks-owned ALLBLK. BET broadcasts the BET Awards to celebrate Black entertainers and other minorities. In 2024, Skydance Media reached an agreement with Paramount to acquire and merge with the company.

History

Background

In 1980, Robert L. Johnson, who left his position as a cable lobbyist; established his own cable network called Black Entertainment Television. It was originally a programming block on the Madison Square Garden Sports Network (later renamed to USA Network), until it became a separate channel in 1983.

In 1991, the network became the first black–controlled television company to be listed on the New York Stock Exchange.

Starting in the late 1990s, the network expanded with the launch of digital cable networks: BET on Jazz (later known as BET Jazz, BET J, Centric, and BET Her), created originally to showcase jazz music–related programming, especially that of black jazz musicians; in 1998, it entered into a joint venture with Starz (then–owned by John Malone's Liberty Media) to launch a multiplex service of the premium channel featuring African American–oriented movies called BET Movies: Starz! 3 (later renamed Black Starz after BET dropped out of the venture following its purchase by Viacom, then–owner of Starz rival Showtime, and now known as Starz InBlack).

2000s and 2010s

In 2000, Viacom announced plans to purchase BET Holdings Inc. for more than $2.3 billion. The deal closed in 2001, with BET Holdings' networks becoming part of MTV Networks; but was eventually placed under BET Networks.

In 2005, Robert Johnson retired as CEO, and was replaced with Debra L. Lee. Around the same time, Viacom was looking into splitting into two entities following multiple issues surrounding the company. On December 31, 2005, a new incarnation of Viacom was created as the new parent of MTV Networks, BET Networks, Paramount Pictures, and Famous Music (later sold to Sony Music in 2007). The "new" Viacom would be spun-off from what became CBS Corporation, the legal successor to the original Viacom; which would retain CBS, Paramount Television, UPN, CBS Radio, and Paramount Parks (later sold to Cedar Fair in 2007).

By 2007, BET had launched two more music–oriented networks, BET Hip Hop and BET Gospel. The flagship network would also launch new original programming by this time, including reality shows '' Baldwin Hills'' and '' Hell Date'', competition show '' Sunday Best'', and town hall–style discussion show ''Hip Hop vs. America''. BET's president of entertainment Reginald Hudlin resigned from the network on September 11, 2008. He was then replaced by Stephen Hill, who is also executive vice president of music programming and talent. BET announced in March 2010 that Ed Gordon would return to the network to host "a variety of news programs and specials".

In 2015, oversight of VH1 Soul and MTV Jams was moved to BET Networks, with both networks relaunched under the BET brand.

In March 2017, president of programming Stephen Hill and executive vice president of original programming Zola Mashariki both stepped down. Connie Orlando, senior vice president of Specials, Music Programming, and News, was named the interim president of programming.

In July 2017, Viacom signed new film and television development deals with Tyler Perry following the expiration of his existing pact with Discovery, Inc. in 2019. As part of this deal, Perry would produce ''The Oval'' and '' Sistas'' for BET and co–own the network's newly launched streaming service, BET+.

Skydance-Paramount merger and potential sale

After Viacom re-merged with CBS to form what is now Paramount Global, BET was transferred from the Paramount Media Networks division to CBS Entertainment Group under the oversight of the latter's president, George Cheeks. By then, the subsidiary overseeing BET-branded assets became known as the BET Media Group. In March 2023, it was reported that Paramount Global was exploring the sale of a majority stake in BET Media in order to provide additional funding to its flagship streaming service Paramount+.

Shaquille O'Neal, Tyler Perry, as well as Sean "Puffy" Combs (who founded Revolt TV) and Byron Allen (who owns Allen Media Group; including TheGrio, This TV, and The Weather Channel), were identified as potential suitors. Paramount Global initially dropped its plans to sell BET Media in August 2023, before renewing interest in December of that year.

Since April 2, 2024, Paramount and its parent company, National Amusements, were in discussions with Skydance Media for a three-way merger between the entities. By July 2, 2024, Skydance reached a preliminary agreement to acquire National Amusements and merge with Paramount. Meanwhile, Paramount reportedly entered talks for a sale of BET Media to buyers led by CEO Scott Mills for $1.6-$1.7 billion. On July 7, 2024, Paramount's board approved the deal to merge with Skydance. Skydance's executive team also supported the potential sale of several Paramount assets which were deemed "not strategic" to their plans, including BET Media.

Assets and other ventures

Television

Year in parentheses denotes when channel was created.

* BET (1980)
** BET Her (1996)
** BET Gospel (2002)
** BET Jams (2002) - formerly MTV Jams
** BET Soul (1998) - formerly known as VH1 Soul
* BET+ (2017) - operated by Tyler Perry Studios

BET Studios

Released films

BET Digital

In 2006, BET Interactive, LLC became a subsidiary of BET Networks. Former and defunct digital assets include BET on Blast and BET Mobile.

Former

BET Walk of Fame Awards

The BET Walk of Fame Awards were established in 1995 by BET. In 2004, proceeds were shared between United Negro College Fund (UNCF) and the BET Foundation, which executes the Healthy BET obesity awareness campaign and other pro-social causes like the annual charitable black-tie BET Walk of Fame ceremony.

BET Home Entertainment

BET's programming is distributed on DVD and through video-on-demand services under the name BET Home Entertainment. In 2007, a distribution deal was arranged with Paramount Home Entertainment, a sister company of BET since 2001.

References

External links

*

{{Paramount Global

American companies established in 1983
Television broadcasting companies of the United States
Cable network groups in the United States
Companies based in New York City
Mass media companies established in 1983
Paramount Media Networks
Paramount International Networks
2001 mergers and acquisitions