 | |
| BET Networks | |
| Formerly | BET Holdings Inc. (1983–2001) |
| Company type | Subsidiary |
| Industry | Entertainment |
| Founded | 1983 |
| Founder | Robert L. Johnson |
| Headquarters | , U.S. |
Key people | |
| Products | Pay television, television production |
| Brands | |
Number of employees | 11,949 |
| Parent | CBS Entertainment Group |
| Website | www |
Black Entertainment Television LLC (also known as the BET Media Group, and doing business as BET Networks) is a subsidiary of American media conglomerate Paramount Global under its CBS Entertainment Group unit. BET Networks oversees television channels and premium services aimed at African Americans, including its namesake cable channel.
History
Background
In 1980, Robert L. Johnson, who left his position as a cable lobbyist; established his own cable network called Black Entertainment Television. It was originally a programming block on the Madison Square Garden Sports Network (later renamed to USA Network), until it became a separate channel in 1983.[1]
In 1991, the network became the first black–controlled TV company to be listed on the New York Stock Exchange.[2]
Starting in the late 1990s, the network expanded with the launch of digital cable networks: BET on Jazz (later known as BET Jazz. BET J, Centric, and BET Her), created originally to showcase jazz music–related programming, especially that of black jazz musicians; in 1998, it entered into a joint venture with Starz[3] (then–owned by John Malone's Liberty Media) to launch a multiplex service of the premium channel featuring African American–oriented movies called BET Movies: Starz! 3 (later renamed Black Starz after BET dropped out of the venture following its purchase by Viacom, then–owner of Starz rival Showtime, and now known as Starz InBlack).
Creation
In 2000, Viacom (later to be known as Paramount Global following the spin-off, and eventual reunion with several assets) announced plans to purchase BET Holdings Inc. for more than $2.3 billion.[4] The deal closed in 2001, with BET Holdings' networks becoming part of MTV Networks; but was eventually placed under BET Networks.
In 2005, Robert Johnson retired as CEO, and was replaced with Debra L. Lee. Around the same time, Viacom was looking into splitting into two entities following multiple issues surrounding the company.[citation needed] On December 31, 2005, a new incarnation of Viacom was created as the new parent of MTV Networks, BET Networks, Paramount Pictures, and Famous Music (later sold to Sony Music in 2007[citation needed]). The "new" Viacom would be spun-off from what became CBS Corporation, the legal successor to the original Viacom; which would retain CBS, Paramount Television, UPN, CBS Radio, and Paramount Parks (later sold to Cedar Fair in 2007).[citation needed]
By 2007, BET had launched two more music–oriented networks, BET Hip Hop and BET Gospel. The flagship network would also launch new original programming by this time, including reality shows Baldwin Hills and Hell Date, competition show Sunday Best, and town hall–style discussion show Hip Hop vs. America.[5] BET's president of entertainment Reginald Hudlin resigned from the network on September 11, 2008. He was then replaced by Stephen Hill, who is also executive vice president of music programming and talent.[6] BET announced in March 2010 that Ed Gordon would return to the network to host "a variety of news programs and specials".[7]
In 2015, oversight of VH1 Soul & MTV Jams was moved to BET Networks, with both networks relaunched under the BET brand.[citation needed]
In March 2017, president of programming Stephen Hill and executive vice president of original programming Zola Mashariki both stepped down. Connie Orlando, senior vice president of Specials, Music Programming, and News, was named the interim president of programming.[8]
Expansion into streaming
In July 2017, Viacom signed new film and television development deals with Tyler Perry following the expiration of his existing pact with Discovery, Inc. in 2019. As part of this deal, Perry would produce The Oval and Sistas for BET and co–own the network's newly launched streaming service, BET+.[9]
After Viacom re-merged with CBS to form what is now Paramount Global, BET was transferred from the Paramount Media Networks division to CBS Entertainment Group under the oversight of the latter's president, George Cheeks.[10] On November 9, 2022, it was announced that VH1 would move to BET Networks under Scott Mills.[11]
In March 2023, it was reported that Paramount Global was exploring the sale of a majority stake in BET in order to provide additional funding to its flagship streaming service Paramount+; Shaquille O'Neal, Tyler Perry, as well as Sean "Puffy" Combs (who owns Revolt TV) and Byron Allen (who owns Allen Media Group; including TheGrio, This TV, and The Weather Channel), were identified as potential suitors.[12] Paramount Global initially dropped its plans to sell BET in August 2023, before renewing interest in December of that year.[13][14]
Cable channels owned by BET Networks
Year in parentheses denotes when channel was created.
- BET (1980)
- BET Her (1996)[a]
- BET Gospel (2002)
- BET Hip-Hop (2002)
- BET Jams (2002)[b] - formerly MTV Jams
- BET Soul (1998)[b] - formerly known as VH1 Soul
- VH1 (1985)
Notes
References
- ^ "Corporate Fact Sheet". BET Networks. Archived from the original on September 12, 2008. Retrieved 2008-09-12.
- ^ Johnson, Robert; Dumaine, Brian (2002-10-01). "The Market Nobody Wanted". Fortune Small Business. Retrieved 2008-09-08.
- ^ "888Starz | Customer Service | Support". 2022-06-06. Retrieved 2022-07-04.
- ^ "Viacom buys BET for $2.3B in stock – Nov. 3, 2000". money.cnn.com. Retrieved 2021-03-19.
- ^ Deggans, Eric (July 24, 2007). "BET diversifies with confidence". St. Petersburg Times. Retrieved December 30, 2010.
- ^ Wiltz, Teresa; Farhi, Paul (2008-09-12). "BET President Resigns". The Washington Post. p. C7. Retrieved 2008-09-12.
- ^ Bland, Bridget (March 8, 2010). "Ed Gordon: Returning to BET News". Black Voices. AOL. Archived from the original on December 17, 2010. Retrieved July 2, 2010.
- ^ Hipes, Patrick (2017-03-29). "BET Programming Shakeup: President Stephen Hill & EVP Zola Mashariki Exit". Deadline. Retrieved 2017-07-27.
- ^ Andreeva, Nellie (2017-07-14). "Tyler Perry Inks Mega Film & Television Deal With Viacom". Deadline. Retrieved 2018-11-20.
- ^ Andreeva, Nellie (2022-11-09). "VH1 Shifts From Paramount Media Networks To BET Media Group Under Scott Mills". Deadline. Retrieved 2023-02-25.
- ^ Andreeva, Nellie (2022-11-09). "VH1 Shifts From Paramount Media Networks To BET Media Group Under Scott Mills". Deadline. Retrieved 2022-11-10.
- ^ Weprin, Alex (2023-03-06). "Tyler Perry, Byron Allen Eye BET Majority Stake as Paramount Explores Sale". The Hollywood Reporter. Retrieved 2023-03-07.
- ^ Weprin, Alex (2023-12-20). "Paramount revives interest in BET Media sale, Byron Allen renews bid – report". StreamTV Insider. Retrieved 2024-03-06.
- ^ "Byron Allen Resubmits $3.5 Billion Bid For Paramount Global's BET, VH1". Deadline. 2023-12-20. Retrieved 2024-04-01.
External links
This page was last edited on 7 April 2024, at 19:18