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Tyler Perry Didn't Successfully Secure Ownership Of BET — But He's Inked An Extensive New Deal With The Media Group

In April 2023, Tyler Perry shared his interest in bidding to purchase a majority stake in BET Media Group from Paramount. As BET is the home of his shows such as “Sistas” and “House of Payne,” there was potential alignment. In addition, the media mogul hoped for the network to become Black-owned once again. However, the aspiration came to an end shortly after. By August 2023, Paramount announced that it had ended its initial plan to sell its majority stake in BET Media Group stating that “a sale wouldn’t result in any meaningful deleveraging of its balance sheet,” as previously shared by AFROTECH™. With the change in plans, Perry, along with other reported bidders including Byron Allen, did not gain ownership of BET. As AFROTECH™ previously told you, Perry was reportedly among the offers that ranged from $2 billion to $3 billion, but the bidding process didn’t pan out as he had hoped. “I was disappointed about it for a number of reasons,” Perry shared at Bloomberg’s Equality Summit,...

Apr 16, 2024

Tyler Perry Puts $800M Studio Plan On Hold Due To AI Advancements

Artificial intelligence (AI) has altered Tyler Perry’s plans for a significant business venture. According to The Hollywood Reporter, Perry was looking to expand his 330-acre studio in Atlanta, GA, adding 12 soundstages to the property. However, the $800 million project is now being halted, and Perry cites AI-powered platform Sora and its capabilities for the decision. Per Sora’s website, the platform offers a text-to-video model that can generate videos up to one minute long according to the user’s prompt. “I have been watching AI very closely and watching the advancements very closely. I was in the middle of, and have been planning for the last four years, about an $800 million expansion at the studio, which would’ve increased the backlot a tremendous size, we were adding 12 more soundstages,” Perry told The Hollywood Reporter. “All of that is currently and indefinitely on hold because of Sora and what I’m seeing. I had gotten word over the last year or so that this was coming,...

Feb 23, 2024

Tyler Perry Shares How Rejection From Lenders Led Him To Do Good For Others — 'I Was Able To Get To A Place Where I Didn't Need Credit'

Failure was never an option for filmmaker Tyler Perry. In conversation with Soledad O’Brien during a fireside chat hosted by QuickBooks and Mailchimp, Perry emphasized the importance of not frowning upon small beginnings. In his early days as a hungry creative in Atlanta, GA, he was homeless and living in his car, as AFROTECH mentioned previously. However, Perry never lost faith, and he credits hope as his constant driver toward success. “What I would say to anyone if it is your dream and it is your hope, it is that thing that you wake up with, and you go to bed with it, and you can’t shake it no matter what, that’s something that’s bigger than you… I was homeless,” Perry explained to O’Brien. He continued, “My mother said, ‘Leave them plays alone’…You ain’t never going make it.’ And this woman loved me with all of her heart, but she knew how difficult it was for me. But if it is your dream and that thing wakes you up and keeps reminding you, do not stop, don’t stop. I’m sitting...

Feb 21, 2024

Following The Passing Of 94-Year-Old Josephine Wright, Tyler Perry To Honor His Commitment By Handing Her Family The Keys To Her New Home

Ninety-four-year-old Josephine Wright, who caught the attention of social media for her determined fight to protect her family property, has passed away.

Jan 9, 2024

Billionaire Tyler Perry Feels The Bidding Process For BET Was 'Disrespectful'

Billionaire Tyler Perry has expressed his true sentiments in response to Paramount’s change of heart regarding the sale of BET.

Oct 19, 2023

Tyler Perry Reportedly Buys A Home For 93-Year-Old Josephine Wright Amid Fight For Ownership Of Her Land

Fighting for ownership of her land has landed 93-year-old Josephine Wright a new home from Tyler Perry.

Oct 17, 2023

After Paramount Ends Plans To Sell Majority Stake In BET, Sean 'Diddy' Combs Now Wants To Unite With Tyler Perry

Sean “Diddy” Combs has his eyes set on building a force in media with the help of fellow entertainment industry veterans.

Sep 14, 2023

Steve Harvey Recalls How His Wife, Marjorie Harvey, Negotiated Their $15M Purchase Of Tyler Perry's Former Mansion

Without initially planning on it, Steve Harvey lucked up on a mansion formerly owned by a fellow top entertainer in the business.

May 19, 2023

Tyler Perry In Talks To Buy Majority Stake in BET Media Group From Paramount Global

Tyler Perry may be taking his mogul status to the next level.

Mar 7, 2023

Tyler Perry To Donate $750K To Pay Property Taxes For Senior Citizens Living Near His Atlanta Studio

Tyler Perry is helping nearby senior citizens with a timely donation.

Feb 15, 2023

Tyler Perry Officially Buys 37 Additional Acres For $8.4M To Expand Atlanta Studio

Tyler Perry is one step closer to expanding his empire. According to Atlanta Business Chronicle, the media mogul purchased 37 additional acres to be added to his Tyler Perry Studios, which currently sits at 330 acres.

Jan 9, 2023