Paramount acquires Tyler Perry’s stake in BET+ and merges with Paramount+

Streaming service BET+ is saying goodbye as it prepares to merge with Paramount+. The switch-up, set for June, will see about 1,000 hours of BET+ content, including favorites like All the Queen’s Men and The Ms. Pat Show, becoming part of Paramount+.

The move follows Paramount’s acquisition of Tyler Perry Studios’ stake in BET+, a move that will bolster the transition. BET Networks president Louis Carr is touting the change as an opportunity to elevate the stories, creators, and culture that the network champions to new heights.

While the exact terms of the buyout remain under wraps, sources suggest it may fall into the eight-figure range. However, the deal isn’t the end of the road for Tyler Perry and BET. Perry will continue to produce content for the network as part of their ongoing content partnership.

Meanwhile, on the Paramount side, CEO David Ellison is focused on expanding Paramount+. The company is gearing up for a significant move with the impending integration of Warner Bros. Discovery, highlighting its commitment to streamlining its operations.

This change promises to bring a fresh and robust lineup of content to Paramount+ viewers, seamlessly merging the best of both worlds from BET+ and Paramount+. So get ready to discover new favorites and enjoy the high-quality programming you love in one convenient package. Exciting times are ahead with the future of streaming entertainment!