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Paramount Renews Talks to Sell BET Assets

Paramount Renews Talks to Sell BET Assets

Paramount Renews Talks to Sell BET Assets

After several stops and starts, Paramount Global appears to be renewing its effort to sell off its BET Media Group assets.

The Shari Redstone-controlled media company is in talks with CC Capital chief Chinh Chu, whose private equity firm is backing BET president Scott Mills in a bid for the BET assets, Bloomberg reported on Tuesday. Reps for Paramount and CC Capital did not reply for comment.

The move to resume talks with interested suitors was expected after Paramount leaders hosted a town hall on June 25 and confirmed that the company had hired bankers to assist with sales of unspecified assets. Co-CEO Georg Cheeks told employees at the time, “We’re looking at selling certain Paramount-owned assets — in fact we’ve already hired bankers to assist us in this process — and we’ll use the proceeds to help pay down debt and strengthen our balance sheet.” 

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