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Simply when it appeared like BET Media Group was going to drag a serious transfer and buy a majority stake in Paramount International, the deal has fallen aside with Paramount deciding to again away from the proposed deal.

In keeping with Selection, the deal that may’ve led to BET proudly owning VH1, BET Studios, and streamer BET+ got here to an finish Wednesday (Aug. 16) after Paramount International got here to the belief that the sale “wouldn’t end in any significant deleveraging of its stability sheet.” With bids up within the $2 billion to $3 billion greenback vary, we’re shocked Paramount International would stroll away from such a Godzilla sized bag, however hey, it’s their firm and their alternative.

Selection reviews:

Selection completely reported in March that Sean “Diddy” Combs was among the many bidders who expressed within the majority stake, becoming a member of fellow media moguls Tyler Perry and Byron Allen in pursuing the acquisition of the community.

Combs has beforehand labored with Paramount International, producing three iterations of MTV’s “Making the Band” between 2002 and 2009. The rapper, document producer and government is already the proprietor of community Revolt, which reaches roughly 80 tens of millions households. Again in March, a supply near Combs informed Selection that Combs is “exploring the chance to buy BET as part of his technique to construct a Black-owned international media powerhouse,” which he believes is “higher for the enterprise, for the tradition and for constructing wealth within the Black neighborhood.”

It actually would’ve been fascinating to see what Diddy would’ve had in thoughts had Paramount International ended up in his fingers. Had Tyler Perry taken management, we in all probability would’ve seen Madea get her personal daytime discuss present or one thing. We wouldn’t be mad at such a present both. Simply sayin’.

What Paramount International has in retailer for it’s future now’s anybody’s guess, however don’t be shocked in the event that they find yourself immediately promoting the bulk stake of their firm to Mark Zuckerberg or Elon Musk or one thing. That’s simply how the sport goes typically.