Paramount Global (PARA) is exploring a sale of a majority stake of BET Media Group, Jessica Toonkel and Joe Flint of Wall Street Journal report, citing people familiar with the matter. The decision to consider selling a majority stake of the assets is part of Paramount’s effort to bolster its Paramount+ streaming service and its advertiser-supported free streaming platform Pluto TV, sources told the Journal. Folding BET into Paramount+ would be challenging because producer Tyler Perry owns a minority stake in the streaming platform, people familiar with the matter said. Reference Link
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on PARA:
- User reports indicate problems at Paramount+, Downdetector says
- Paramount Rejects $3B Offer; Analysts Sidelined on PARA Stock
- Paramount turned down over $3B offer for Showtime, WSJ reports
- Warner Bros. Discovery sues Paramount over ‘South Park,’ WSJ reports
- HBO Max Targets Paramount in “South Park” Lawsuit
