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50 Cent Loses BET Bid: “That Sh*t Wasn’t Worth $3 Billion”

August 19, 2023 by newhiphopnews

50 Cent recently hopped on social media, announcing that he’s out of the running to acquire the BET Media Group. He shared a photo of a news report, writing “We will get them next time, @shaq. That sh*t wasn’t worth 3,000,000,000. #bransoncognac #lecheminduroi.” Fif teamed up with Shaquille O’Neal and Kenya Barris earlier this year in efforts to acquire BET. Unfortunately, however, it looks like he’s joined the growing list of artists whose bids fell through.

Earlier this week it was revealed that Paramount also refused an offer from Tyler Perry, who was willing to part with $2 billion to acquire the network. Paramount’s opening bid was $3 billion, and they weren’t willing to go lower. They had initially agreed, later announcing that they’d changed their minds. “We made this decision because the benefits of maintaining a majority stake in BET Media Group creates more value for Paramount than any of the proposals we received,” they said following the news.

50 Cent Tells Shaq They’ll “Get Them Next Time”

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“When this came up, I thought ‘wow, this is meant to be,‘” Perry revealed during an interview. “What I can tell you is it’s worth a lot more with me than it is without me,” he added. Earlier this summer, 50 Cent opened up about where he was in the process of bidding on BET. He also claimed that it’s really “Tyler Perry’s network,” though he was still interested in acquiring it at the time. “He’s done enough work there to dominate that,” he explained. “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.’”

Paramount also reportedly turned down an offer from Diddy, eventually halting the sale process altogether. “Media is the most powerful industry in the world but it’s the industry where we have the least amount of ownership, influence and control!” Diddy wrote upon announcing the bid. “It’s time for @BET to be Black-owned again so we have the power to tell our own stories, control our own narrative! This is not about me it’s about WE!!!!”

[Via]

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Paramount Ends Negotiation Talks for Sale of BET Media Group

August 18, 2023 by newhiphopnews

Paramount Global has called off the sale of BET Media Group. A potential sale is said, “wouldn’t result in any meaningful deleveraging of its balance sheet.”

According to Wall Street Journal, BET Media Group was purchased for $2.3 billion in 2000. The media group featured VH1, BET Studios, and the eventual BET + streaming service. Over the years, BET’s viewership has decreased, and Paramount was looking to offset those losses and additionally created by the Paramount+ streaming service.

In the sale, Paramount hoped to keep a minority stake and saw bids between $2 billion and $3 billion. Bidders ranged from Tyler Perry to Diddy. For now, the property will remain with Paramount.

The post Paramount Ends Negotiation Talks for Sale of BET Media Group first appeared on The Source.

The post Paramount Ends Negotiation Talks for Sale of BET Media Group appeared first on The Source.

BET Auction For $3 Billion Reportedly Called Off By Paramount

August 17, 2023 by newhiphopnews

One of the most significant entertainment media sales in recent years has apparently been called off. Moreover, new reports from the New York Post indicate that Paramount is no longer selling BET, which was a prospect that bolstered Black entrepreneurs, businessmen, and entertainers to take ownership of the Black-centered network. Not only that, but the cancellation of a $3 billion auction for BET was reportedly because Tyler Perry’s offer for it was too low. Many looked to him as the creative who seemed best poised to acquire the company under his leadership. However, with this new report, it seems like its future still hangs in the balance.

Furthermore, the Post‘s article cites an allegedly close source to Paramount, who said that they notified bidders of the decision on Wednesday (August 16). “We made this decision because the benefits of maintaining a majority stake in BET Media Group creates more value for Paramount than any of the proposals we received,” the source reportedly told the publication. Another bidder in this debacle was a similarly legendary executive, Byron Allen, who also had a lot of public support.

Paramount’s Canceled Auction For BET

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Regardless, the report suggest that the source painted Paramount as a conglomerate that sought a sale “which could return the asset to Black ownership.” In addition, they apparently wanted a “party that could be a good partner and responsible steward of the assets and the mission.” Apparently, JPMorgan, Paramount’s sell-side bank, failed to provide financing to suitors upon the auction’s commencement, thus placing doubt in BET Group’s strength. Also, it didn’t predict BET’s earnings during the process, which caused further concern, and the source claimed that Allen offered $3 billion for it late in the game.

Meanwhile, the Post‘s report also alleged that Paramount wanted Perry to push his offer up some more. It’s important to note that he already owns a 25% stake in BET+, the media company’s streaming service. As such, it seems like it will be a little longer until we know for sure what will happen to BET, and how hopeful owners circumvent this. For more news and the latest updates on the potential sale of BET, stay up to date on HNHH.

The post BET Auction For $3 Billion Reportedly Called Off By Paramount appeared first on HotNewHipHop.

BET Auction For $3 Billion Reportedly Called Off By Paramount

August 17, 2023 by newhiphopnews

Paramount’s Canceled Auction For BET

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Terence Crawford Confronted Maino After Rapper Bet Against Him

August 10, 2023 by newhiphopnews

Undisputed welterweight boxing champion didn’t take kindly to Maino betting against him in his unificiation fight against Errol Spence Jr. According to Maino, he had made a bet with Angela Yee about the fight. “So yeah, I bet on the fight,” he admitted in defeat. “Yes I did. I placed a small wager — not for money, not for bragging rights! But I bet Angela Yee [that] if I lose — ‘cause I bet on Spence — if I lose, then I gotta wear the same outfit for one week straight, take pictures in it, everything. I don’t know how I feel about that … I gotta figure this out,” Maino said on Instagram after the fight.

Then Crawford rolled up outside the studios where Yee’s podcast is recorded to confront Maino. “I bet against you and lost, I had to wear the same clothes for a week straight. I don’t want no smoke, but I’m man enough to tell you I was wrong,” the rapper pleads with the boxer in a since-released video of the confrontation. Maino manages to resist the boxer’s repeated demands to apologize. However, he does admit that he “did bad.”

Crawford Discusses Future Fight Options

Aside seeking answers from his doubters, Crawford has also been discussing his next potential fights. One name that has arisen is Cancelo Álvarez. Álvarez is 59-2-2 in his career and is currently the undisputed super middleweight champion. Despite this hype, it’s not a fight that Crawford himself is interested in. “No, not at all,” Crawford told TMZ in regards to his interest in the fight. “Canelo really don’t interest me because of the size factor.”

However, Crawford did have some ideas for his next fights. First and foremost is the expected rematch for the welterweight title. “That’s my obligation in the contract and I gotta honor that if that’s the next move for me and my career,” Crawford said. The rematch clause is valid for 30 days after the fight and it is widely expected that Spence Jr. will trigger it later this month. Beyond Spence Jr. however, there was one opponent that Crawford liked the idea of fighting. “I would definitely choose Jermell Charlo. It’s a meaningful fight,” Crawford said. “It’s more history, it’s more on the table.”

[via]

The post Terence Crawford Confronted Maino After Rapper Bet Against Him appeared first on HotNewHipHop.

Drake Backs Nate Diaz Over Jake Paul With Six-Figure Bet

August 5, 2023 by newhiphopnews

All eyes will be on Dallas, Texas tonight (August 5) as Jake Paul finally faces off against Nate Diaz in the boxing ring. The fight was announced back in April as Paul sought to find the perfect comeback fight following his February loss to Tommy Fury. That opportunity came in the former of the formidable Diaz. While Diaz has never boxed professionally, he is one of the UFC’s best-known fighters of the last decade. That lack of boxing experience makes Diaz the underdog. However, that suits Drake just fine as the rapper revealed he had placed a $250,000 bet on Diaz to beat The Problem Child.

Drake revealed the massive wager on Instagram, showing his betting slip from Stake. While most sportsbooks have Diaz as the -340/3.40 underdog, Stake appears to have the former UFC fight at -400/4.00. That means Drake will receive $1 million if Diaz is able to overcome the former YouTuber. It’s a change of allegiances from the rapper. Back in February, Drizzy lost $400,000 when he bet on Paul to beat Tommy Fury. Explaining his rationale for tonight’s fight, Drake said “Jake is a dog but I can never bet against a Diaz brother that’s just how I was raised.”

Drake Goes Against The Grain For Paul-Diaz

Jake Paul Nate Diaz — DALLAS, TEXAS – AUGUST 04: Jake Paul lunges toward Nate Diaz during weigh-ins before their fight at American Airlines Center on August 04, 2023 in Dallas, Texas. (Photo by Sam Hodde/Getty Images)

Drake is definitely going against the prevailing opinion with his latest massive bet. While Diaz has a longer history of fighting experience, the reports of his training have been…worrying to say the least. Furthermore, Paul is younger, faster, and more athletic than the grizzled MMA veteran. Additionally, The Problem Child has already won four fights against MMA pros. Tyron Woodley, Ben Askren, and Anderson Silva all thought they could take him down a peg on his terms. If this was in the Octagon, there would be legitimate fears for Paul’s life. But in reality, this is a feel-good fight to help restore Paul’s credibility before he attempts to take on an actual boxer again.

The one thing going for Diaz? He absolutely hates Jake Paul. While the UFC veteran may have seemed subdued or even downright bored during the buildup to this fight, it’s because he doesn’t see Paul as being worth his time. As Diaz stated in a recent interview, he is essentially taking this fight to do what no one else is willing to do – take Jake Paul down a peg and shut him up for a while. Even then, Paul offered this fight because he doesn’t care about being a professional boxer. The Problem Child cares about high-profile knockouts of people with lengthy Wikipedia pages, boxing prowess be damned. In short, Drake should probably be prepared to part ways with that $250,000 unless the upset of the century goes down in Dallas.

[via]

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T.I. To Make TV Stand-Up Debut In Kevin Hart’s “Comic View” Reboot

July 8, 2023 by newhiphopnews

T.I. will be making his television debut as a stand-up comic during Kevin Hart‘s upcoming Comic View reboot. Hart began taping the show on July 6 and will conclude doing so on July 9. He’s filming it at Resorts World in Las Vegas, NV with Mike Epps hosting. Rubber Band Man, D.C. Young Fly, Bresha Webb, Tommy Davidson, and Taccara Williams will all also be making appearances.

“I’m thrilled to partner with BET for the return of ‘Comic View’ as part of Hartbeat Weekend making this can’t-miss celebration of comedy, music and culture,” Hart told Variety in a statement. “Having hosted ‘Comic View’ in the past, I understand first-hand the incredible platform this franchise offers for comedians to showcase their talents on a national stage and I’m excited to continue that tradition in Las Vegas.”

T.I. Poses With Kevin Hart In NYC

NEW YORK, NY – DECEMBER 03: T.I. and Kevin Hart, partner of Muzik One Headphones, kick off the holiday season with shoppers at Brookstone in Times Square on December 3, 2016, in New York City. (Photo by Matthew Eisman/Getty Images for Muzik)

In addition to performing for Comic View, T.I. also recently teamed up with D.C. Young Fly on the upcoming film, Da Partments. T.I. shared a preview of the film on Instagram, last month. “The wait is almost over!!!! Get Ready for Uncensored Unhinged Unapologetic Hood humor at its finest…” T.I. captioned a teaser for the movie. “Fresh out the minds of ones who made it out the trenches & laughed all the way to the bank!!! Written & Directed by @tip for The Sauce Room Prod by @dcyoungfly & @tip Exec Prod @lilduval & @karlousm Introducing: The Haha Mafia”

He continued: “And Starring the coolest, funniest MFs in Atlanta. Some you know… & Some you should. We all would like to Welcome you to… DaPartments!!! Coming soon @tubi In Partnership wit @Swirlfilmsig.”

Kevin Hart Arrives In Las Vegas

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Release dates for full episodes of Comic View have yet to be announced. However, they will be hitting BET at some point later this year. Be on the lookout for an update on the release dates.

[Via]

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Kevin Hart’s Hartbeat Teams with BET to Revive ‘ComicView’

July 7, 2023 by newhiphopnews

Hartbeat and BET have announced their partnership to revive the beloved standup comedy franchise, ComicView, after a nine-year absence.

The new season of ComicView will kick off with live tapings during Hartbeat Weekend at Resorts World Las Vegas from July 6-9. Hosted by Mike Epps, the show will feature a mix of emerging talents and fan-favorite comedians, including Tommy Davidson, Tacarra Williams, Tony T. Roberts, Bresha Webb, D.C. Young Fly, and the standup debut of rapper T.I. (Tip Harris).

“Developing opportunities to spotlight emerging voices in comedy and connect audiences through laughter and joy has long been part of Hartbeat’s mission, making us uniquely positioned to curate and produce this series alongside BET and usher in an exciting new era for this beloved comedic institution,” said Jeff Clanagan, Hartbeat President & Chief Distribution Officer. “We are also thrilled to have Kevin Hart and Mike Epps on board as executive producers to spearhead a new era for this iconic franchise.”

“We’re excited to partner with Hartbeat to bring back our culturally iconic franchise ‘ComicView’ during Hartbeat Weekend,” said BET CEO and President Scott Mills. “Over 30 years ago, ‘ComicView’ set the footprint for stand-up specials and launched the careers of some of today’s mega-comedy stars. We can’t wait to see this new group of talented and rising comedians. We are so proud to work with this all-star production team, including Mike Epps and the impressive roster of talent that will bring you the best comedy you’ll see all year long.”

Executive-produced by Mike Epps, Kevin Hart, Jeff Clanagan, Tiffany Williams, and Angela Aguilera, ComicView promises to deliver hilarious performances. Full episodes of the show will be released later on BET.

The post Kevin Hart’s Hartbeat Teams with BET to Revive ‘ComicView’ first appeared on The Source.

The post Kevin Hart’s Hartbeat Teams with BET to Revive ‘ComicView’ appeared first on The Source.

Snoop Dogg Reacts To Death Row Winning BET’s “Best Rap Crew Of All Time” Tournament

June 27, 2023 by newhiphopnews

Snoop Dogg celebrated Death Row winning BET’s “Best Rap Crew Of All Time” tournament on Instagram, earlier this week. Commenting on the results, he thanked fans and wrote, “Wow,” with fire, prayer hands, and music notes emojis. For the win, Death Row beat out Wu-Tang Clan in the championship round. Death Row is credited with having Dr. Dre, Snoop Dogg, Tupac Shakur, Tha Dogg Pound, Warren G, DJ Quik, The Lady Of Rage, and others.

Death Row previously beat out YMCMB, TDE, N.W.A. & The Posse, and the Hieroglyphics Crew during the first four rounds to reach the final.

Snoop Dogg With Dr. Dre In 1995

NEW YORK, NEW YORK–AUGUST 03: Snoop Dogg and Dr. Dre (aka Andre Romelle Young) appear backstage when the Death Row Records label assembles at The Source Awards, held at The Paramount Theater at Madison Square Garden, on August 3, 1995 in New York City. (Photo by Al Pereira/Getty Images/Michael Ochs Archives)

Fabolous also commented on the result when it was shared by The Hip-Hop Wolf on Instagram. He wrote: “Kinda a weird category comparison to me.. Wu Tang is a rap group.. . Death Row was a rap label.. and the artists were all solo artist. If its Rap Crew based it shoulda been like Death Row, Bad Boy, Cash Money, No Limit etc. Wu Tang wasn’t even all on the same labels. Not a fair comparison in my eyes. Just my thoughts.. But congrats to Tha Row.”

Other fans agreed with the rapper. “They had to put a whole record label against a rap group for them to win [laughing emojis] who’s fucking idea was this??” one wrote. Another commented: “All this time 2pac was in a group..”

Snoop Dogg Responds To Death Row’s Win

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In addition to celebrating the best rap group of all time, BET also recently hosted its annual awards ceremony. Tons of the biggest artists in hip-hop took home awards including Drake, Latto, Kendrick Lamar, and more.

[Via]

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Did Tyler Perry Buy BET? (Not So Fast)

June 13, 2023 by newhiphopnews

Entertainment mogul (and Gone Girl standout) Tyler Perry, who has been recognized by Forbes as a billionaire and who pulled off one of the first successful production bubbles during the pandemic, is the subject of a recent report on BET that hasn’t checked out as valid.

However, signs do point towards the Madea creator potentially buying BET. In April, Perry went on record with Entertainment Tonight in response to louder-than-whispers assertions that he would soon take the cable channel from CBS/Paramount Global. Perry has, of course, long since been whipping up multiple series (including Ruthless and Bruh) for BET, and he made it clear that his desire to full-on own BET wasn’t simply from rumortown:

“Rumor? No, it’s not a rumor,” Perry shared. “I’ve been there for four years now and had tremendous success. I wasn’t expecting this to happen, so, yes — if that is possible, I’m very, very interested in taking as much of it…”

He continued, “If it’s possible, I’m gonna take as much of it as I can.”

However, Perry is not the only interested buyer. Diddy would also love to get in on that, and it looks like another outlet jumped the gun and decided to report that Perry had a done deal. The report surfaced as a claimed exclusive from a site called TheStreamr, and although the report quickly spread, the Huffington Post’s Phil Lewis noted on Twitter that the report has evaporated: “Just FYI, the original report on this Tyler Perry BET news has been taken down.”

In other words, not so fast, Bruh. Although if Buff Perry has his way, the news could become real at some point, so stay tuned.

(Via ET Online & Phil Lewis on Twitter)