Diddy plans to expand his business empire
Hip-hop billionaire Diddy has joined the race to buy BET's majority stakes, according to Variety. Diddy is competing with Tyler Perry and Byron Allen to purchase stakes of the Paramount Global-owned media giant.
Per sources familiar with the situation, the mogul is “exploring the opportunity to purchase BET as a part of his strategy to build a Black-owned global media powerhouse.”
To this point, Paramount hasn't started negotiations with any of the bidders.