50 Cent is not losing sleep over Paramount’s decision to retain its majority stake in BET Media Group. The entertainment conglomerate’s move to nix plans to sell comes five months after multiple prominent figures in Black entertainment expressed interest in the acquisition.
50 Cent was among the likes of Byron Allen, Tyler Perry, and Sean “Diddy” Combs, each of whom were reportedly vying to claim substantial ownership of BET. The AP reports that a source said the company “determined maintaining a heavy stake in BET creates more value for Paramount than any of the proposals after consulting with financial advisers.” Bidders were notified of the change of plans on Wednesday (Aug. 16).
The Massacre rapper is largely unfazed by the turn of events. “We will get them next time, Shaq. That s**t wasn’t worth $3,000,000,000,” he wrote in an Instagram post on Aug. 18. Paramount, then Viacom, purchased the Bob Johnson-founded entity for $2.3 billion in 2000. Reports of the now-defunct sale alleged that Paramount was interested in divesting from BET Media Group to further fund the expansion of its streaming service, Paramount+, and other assets in its portfolio.
As previously reported by REVOLT, 50 Cent, Shaquille O’Neal, Kenya Barris, and investment management company CVC teamed up to make an appealing deal for the company, which holds significant reverence among the Black community. In a June interview, the Grammy Award-winning artist said that mogul Perry was a likely choice for the purchase. “He’s done enough work there to dominate that. And not even only dominate — I don’t think they’ve explored what it would be like not having a Tyler. And he’s created enough content that if they didn’t sell the company to him, he could go across the street and say, ‘I’m going to start my own,’” 50 Cent told Vulture.
The Typer Perry Studios owner has not publicly addressed the latest development. Like the director, 50 Cent has his sights on growing his entertainment empire. This spring, he purchased a 985,000-square-foot space to house G-Unit Film & Television. He already has the successful “Power” franchise and “BMF” series on television and is said to have even more projects in development after signing a Fox Entertainment deal in February.