BET Media Group

Last updated
Black Entertainment Television LLC
BET Media Group
FormerlyBET Holdings Inc. (1983–2001)
BET Networks (2001–2022)
Company type Subsidiary
Industry Entertainment
Founded1983;41 years ago (1983)
FounderRobert L. Johnson
Headquarters
Washington, D.C.
,
U.S.
Key people
Products Pay television, television production
Brands
Owner Paramount Global
Number of employees
11,949
Parent CBS Entertainment
Website www.paramount.com/about/brands/bet

Black Entertainment Television LLC (doing business as the BET Media Group, and formerly known as BET Networks) is a subsidiary of American media conglomerate Paramount Global under its CBS Entertainment unit. BET oversees television channels and premium services aimed at African Americans, including its namesake cable channel.

Contents

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. [1]

In 1991, the network became the first black–controlled TV company to be listed on the New York Stock Exchange. [2]

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 & 2010s

BET Networks.svg
Logo from 2005 to 2021.

In 2000, Viacom announced plans to purchase BET Holdings Inc. for more than $2.3 billion. [3] 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.[ citation needed ] 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[ citation needed ]). 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).[ citation needed ]

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. [4] 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. [5] BET announced in March 2010 that Ed Gordon would return to the network to host "a variety of news programs and specials". [6]

In 2015, oversight of VH1 Soul & MTV Jams was moved to BET Networks, with both networks relaunched under the BET brand. [7]

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. [8]

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+. [9]

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. [10] On November 9, 2022, it was announced that oversight of VH1 would move to BET under Scott Mills. [11] The move reunited the network with the formally-named VH1 Soul, while also splitting it from MTV and its other formerly-branded sibling channels (VH1 Classic and VH1 Country).

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. [12] Paramount Global initially dropped its plans to sell BET Media in August 2023, before renewing interest in December of that year. [13] [14]

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. [15] By July 2, 2024, Skydance reached a preliminary agreement to acquire National Amusements and merge with Paramount. [16] Meanwhile, Paramount reportedly entered talks for a sale of BET Media to buyers led by CEO Scott Mills for $1.6-$1.7 billion. [17] On July 7, 2024, Paramount's board approved the deal to merge with Skydance. [18] [19] Skydance's executive team also supported the potential sale of several Paramount assets which were deemed "not strategic" to their plans, including BET Media. [20]

Assets and other ventures

Television

Year in parentheses denotes when channel was created.

Notes

  1. ↑ Channel was originally known as BET on Jazz, BET Jazz, BET J, & Centric.
  2. 1 2 Channel originally had the MTV branding, and was part of the Viacom Media Networks group (now known as Paramount Media Networks).
  3. ↑ Channel originally owned by Warner-Amex Satellite Entertainment; a division of Warner Communications, and the original owner of then-sister channel MTV. It was spun-off into MTV Networks (now known as Paramount Media Networks) on June 25, 1984, and eventually acquired by the original incarnation of Viacom between 1985 & 1986. In the years' following the spinning-off, and eventual reunion, of assets between 2005 and 2019 that lead to the formation of the present-day Paramount Global, oversight of the channel would be moved to BET three years later.

BET Studios

Released films

TitleRelease dateCo-productionDistributorNotes
Nobody's Fool November 2, 2018
Paramount PicturesFirst film from Paramount Players
What Men Want February 8, 2019
Body Cam May 19, 2020
  • Paramount Players
  • Ace Entertainment
Karen September 3, 2021
  • Flixville USA
 Quiver Distribution
King of the SouthTBA
Genius Minds Pictures

BET Digital

In 2006, BET Interactive, LLC became a subsidiary of BET Networks. [21] Former and defunct digital assets include BET on Blast and BET Mobile. [22]

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. [23]

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. [24] [25]

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References

  1. ↑ "Corporate Fact Sheet". BET Networks. Archived from the original on September 12, 2008. Retrieved 2008-09-12.
  2. ↑ Johnson, Robert; Dumaine, Brian (2002-10-01). "The Market Nobody Wanted". Fortune Small Business. Retrieved 2008-09-08.
  3. ↑ "Viacom buys BET for $2.3B in stock – Nov. 3, 2000". money.cnn.com. Retrieved 2021-03-19.
  4. ↑ Deggans, Eric (July 24, 2007). "BET diversifies with confidence". St. Petersburg Times. Retrieved December 30, 2010.
  5. ↑ Wiltz, Teresa; Farhi, Paul (2008-09-12). "BET President Resigns". The Washington Post. p. C7. Retrieved 2008-09-12.
  6. ↑ Bland, Bridget (March 8, 2010). "Ed Gordon: Returning to BET News". Black Voices. AOL. Archived from the original on December 17, 2010. Retrieved July 2, 2010.
  7. ↑ Chapman Jr., George (28 December 2015). "VH1 Soul to Become BET Soul The 24-hour music video channel to make big switch today". BET Networks . Retrieved 3 January 2016.
  8. ↑ Hipes, Patrick (2017-03-29). "BET Programming Shakeup: President Stephen Hill & EVP Zola Mashariki Exit". Deadline. Retrieved 2017-07-27.
  9. ↑ Andreeva, Nellie (2017-07-14). "Tyler Perry Inks Mega Film & Television Deal With Viacom". Deadline. Retrieved 2018-11-20.
  10. ↑ Andreeva, Nellie (2022-11-09). "VH1 Shifts From Paramount Media Networks To BET Media Group Under Scott Mills". Deadline. Retrieved 2023-02-25.
  11. ↑ Andreeva, Nellie (2022-11-09). "VH1 Shifts From Paramount Media Networks To BET Media Group Under Scott Mills". Deadline. Retrieved 2022-11-10.
  12. ↑ Weprin, Alex (2023-03-06). "Tyler Perry, Byron Allen Eye BET Majority Stake as Paramount Explores Sale". The Hollywood Reporter. Retrieved 2023-03-07.
  13. ↑ Weprin, Alex (2023-12-20). "Paramount revives interest in BET Media sale, Byron Allen renews bid – report". StreamTV Insider. Retrieved 2024-03-06.
  14. ↑ "Byron Allen Resubmits $3.5 Billion Bid For Paramount Global's BET, VH1". Deadline. 2023-12-20. Retrieved 2024-04-01.
  15. ↑ Littleton, Cynthia (2024-04-03). "National Amusements and Paramount Global Close to Setting an Exclusive Window for Acquisition Talks with Skydance Media". Variety. Retrieved 2024-04-03.
  16. ↑ Rizzo, Lillian (July 2, 2024). "Skydance and National Amusements near Paramount deal as special committee reviews terms". NBC News . Retrieved July 4, 2024.
  17. ↑ Spangler, Todd (July 2, 2024). "Paramount Reportedly in Talks to Sell BET for $1.6 Billion in Buyout Led by CEO Scott Mills". Variety. Retrieved July 8, 2024.
  18. ↑ Mullin, Benjamin; Hirsch, Lauren (2024-07-07). "Paramount Agrees to Merge With Skydance". The New York Times. ISSN   0362-4331 . Retrieved 2024-07-08.
  19. ↑ "SKYDANCE MEDIA AND PARAMOUNT GLOBAL SIGN DEFINITIVE AGREEMENT TO ADVANCE PARAMOUNT AS A WORLD-CLASS MEDIA AND TECHNOLOGY ENTERPRISE". July 7, 2024. Retrieved July 8, 2024.
  20. ↑ Huston, Caitlin (July 8, 2024). "Skydance Team Would "Be Supportive Of" Paramount Selling Off Some Assets". The Hollywood Reporter . Retrieved July 8, 2024.
  21. ↑ "Companies: BET Interactive". LinkedIn. Retrieved 2011-07-26.
  22. ↑ "Companies: BET Networks Media Room". BET. Archived from the original on 2011-09-09. Retrieved 2011-07-26.
  23. ↑ BET Walk of Fame salutes Smokey Robinson Archived November 13, 2012, at the Wayback Machine .thefreelibrary.com
  24. ↑ "BET Networks Launches Home Entertainment Division Through Partnership With Paramount Home Entertainment" (Press release). 2007-05-24. Retrieved 2013-12-29. [...] today announced the launch of BET Home Entertainment through a partnership with Paramount Home Entertainment, who will distribute BET original television programming, made-for-DVD titles and acquired content on a worldwide basis.
  25. ↑ "Cable Guide 2010", adage.com, archived from the original on December 30, 2013, retrieved December 29, 2013, BET Home Entertainment, a collection of BET-branded offerings for the home environment, including DVDs and video on demand
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