In a major development for the entertainment industry, BET has become Black-owned once again after 21 years, while VH1, for the first time, now boasts an African American owner.
According to his longtime friend and television personality Rolanda Watts, Tyler Perry has cemented his place in history by acquiring the two major television networks, making him the first African American to do so.Earlier this year, the renowned actor and filmmaker expressed optimism about purchasing BET, stating his keen interest if it were a possibility.
He acknowledged the unexpected nature of the acquisition, stating, “I’ve been there for four years now and had tremendous success… If that is possible, I’m very, very interested in taking as much of it as I can.” With the purchase, Perry assumes control over BET Media Group, which includes other networks such as VH1.In 2021 alone, BET+ was responsible for half of the subscribers and nearly all revenue growth for the channel.
The acquisition of BET and VH1 marks a significant milestone in the representation and ownership of the entertainment industry.
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