Byron Allen renews bid to purchase BET with new $3.5 billion offering

Byron Allen is making another bid for BET Media Group, with a $3.5 billion offer sent to Paramount Global for BET and VH1. Paramount Global has been in talks to sell BET to a management-led investor group. Earlier this year, Byron Allen, Tyler Perry, and others placed a bid for BET. However, the offers were considered insufficient, and the sale was canceled. Allen has now resubmitted his bid after learning of potential discussions with BET CEO Scott Mills and Chinh Chu of CC Capital Partners. This news comes amid talks about a potential merger between Paramount and Warner Bros Discovery.

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