Diddy Shares Vision For Interest In Acquiring BET: 'Control Our Own Narrative'

Sean "Diddy" Combs calls for "BET" to be 'Black-owned again.'

The Bad Boy boss is entering the race to buy BET, joining fellow media moguls Tyler Perry and Byron Allen as they vie to take over a majority stake of BET Media Group amid reports that owner Paramount Global is exploring a sale of the asset. 

Paramount's network brands include sub-media houses like BET, BET+, and VH1— which was moved under the group as part of restructuring at Paramount last year — and BET's production arm, BET Studio. The "Made" actor communicated his vision for the purchase and explained why he threw his hat in the rain for the company. 

On Wednesday, the record producer shared a snapshot of his tweets on Instagram. The post announced his decision and reasons for exploring the purchase. The words in the photo read:

"Media is the most powerful industry in the world but it's the industry where we have the least amount of ownership, influence, and control! It's time for @BET to be Black-owned again so we have the power to tell our own stories, control our own narrative! This is not about me it's about WE!!!!"

Concluding the write-up, Diddy acknowledged that he was 'building a team of leaders in the culture to pursue ownership' of the media properties. "We have to unify our power and resources to create real change! #THETIMEISNOW," he added. In the caption, the "Revolt" owner penned:

"It always baffled my mind how we as Black folk have never unified our super powers to do business together and that has to stop. The only way for us to progress and to elevate is through unity!! It's not about me it's about we. The purpose is bigger than the moment!"

Many of his followers were sold on the idea; some even suggested the different shows he should bring once the sale got finalized. This fan wrote, "Unification is KEY! We must understand its power."

Another user wrote, "Black People need to own Black Entertainment (Television) 💯." A third commentator stated, "Bring back Rap City, Video Soul, Planet Groove, and 106 & Park," while a fourth fan suggested, "Midnight Love."

As mentioned, the record executive is up against some big shots for the ownership of Black Entertainment Television. The Blast noted that the rapper is ready to move and is "exploring the opportunity to purchase BET as a part of his strategy to build a Black-owned-global media powerhouse."

Tyler Perry shared that he was interested in buying the BET conglomerate at the start of the month but has yet to mention any more details concerning the process. Perry had a deal to create shows for Paramount and also has a minority stake in Paramount's BET+ streaming service.

The other powerhouse expressing deep interest is media mogul Byron Allen. He is a comedian and producer. Also, he owns his own media company called Entertainment Studios (Allen Media Group).

A spokesperson for Allen Media Group sent a statement detailing Allen's interest and intentions for the future purchase. It read, "Byron Allen is interested in buying BET, and he will be pursuing the acquisition of the network."

Over his decade-long career, the "Can't Nobody Hold Me Down" rapper has earned several accolades for his contributions to the entertainment industry, including three Grammys and a few BET Awards. 

Last June, he added the BET's Lifetime Achievement Award to his collection, joining the likes of Queen Latifah, Mary J. Blige, New Edition, Anita Baker, Lionel Richie, Whitney Houston, Samuel L. Jackson, and Prince.

At the time, The Blast noted that BET's CEO Scott Mills released a statement detailing why the prominent songwriter deserved the accolade. He shared, "Diddy has always been a pioneering force in our community, breaking barriers, achieving unprecedented heights, blazing new trails, and in so doing, raising the bar for all of us."

Mills added, "His virtuosity is matched only by his range – from music to media, culture, business, and philanthropy – Diddy has exemplified Black Excellence." The CEO expressed the company's delight in using one of its "biggest stages" to recognize the music producer's "extraordinary accomplishments."