'Paramount's BET Sale In Doubt As Tyler Perry Balks At $3B Price, Sources Say' - NY Post
Portfolio Pulse from Happy Mohamed
Tyler Perry is reportedly refusing to pay the $3 billion asking price for Paramount's Black Entertainment Television (BET) Group, putting the sale in doubt. Perry, who already owns a 25% stake in BET and BET+, has private equity backing for his offer. Paramount Global, which bought BET for $2.7 billion in 2000, is seeking a sale price of roughly 10 times BET Group's current $325 million Ebitda.
June 20, 2023 | 7:44 pm
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Paramount's potential sale of BET Group to Tyler Perry is in doubt as Perry refuses to pay the $3 billion asking price. This could impact Paramount's efforts to reduce its debt.
Tyler Perry's refusal to pay the $3 billion asking price for BET Group puts the sale in doubt, which could negatively impact Paramount's stock price. The sale is important for Paramount to reduce its debt, and a failed deal could lead to concerns about the company's financial health.
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IMPORTANCE 80
RELEVANCE 100