Big Law

Paramount in Talks to Sell BET Network to a Management-Led Investor Group

Paramount Global is in talks to sell its Black Entertainment Television network to a management-led investor group, according to people with knowledge of the discussions.

The potential buyers include BET Chief Executive Officer Scott Mills and Chinh Chu, a former Blackstone Inc. executive who runs New York-based CC Capital Partners, said the people who asked not to be identified because the negotiations are private. A price of a little under $2 billion has been discussed, the people said.

Chu has created a number of special purpose acquisition companies to acquire businesses. Last year, he merged one with the photo archive Getty Images Holdings Inc. A spokesperson for CC Capital declined to comment.

Read the source article at Yahoo Finance

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