Paramount International is mulling the potential sale of a majority stake in BET Media Group, which incorporates the BET cable community, BET Studios and VH1, a supply with data of the matter informed Reuters.

The corporate believes BET, an leisure model centered on the Black group and tradition, would entice substantial curiosity from Black traders or establishments, stated the supply, who was not approved to talk publicly.

BET drew a right away expression of curiosity from Byron Allen, whose Allen Media Group’s property embrace The Climate Channel. A spokesperson for Allen Media Group stated it “will probably be pursuing the acquisition of the community.”

Media mogul Tyler Perry, the actor and producer greatest identified for the “Madea” film franchise, is also bidding, in line with the Wall Road Journal and numerous Hollywood commerce publications.

A spokesperson for Perry couldn’t instantly be reached for remark.

Perry has a longstanding relationship with Paramount, partnering with the media firm to launch the BET+ subscription service in 2019. He retains a minority stake within the service.

Paramount additionally shaped BET Studios in 2021 via a partnership with “Black-ish” creator Kenya Barris, actress Rashida Jones and “S.W.A.T” co-creator Aaron Rahsaan Thomas.

Paramount hopes to take care of a minority stake to profit from any worth that is perhaps unlocked by the transaction, the supply stated.

The Wall Road Journal first reported that Paramount was exploring a potential sale of BET because it appears to be like to enhance its steadiness sheet.