Hypebeast reports: “Paramount Global will no longer be selling its stake in BET Media Group. The media company announced on Wednesday that it would be ending the bidding process for the stake, having determined that “a sale wouldn’t result in any meaningful deleveraging of its balance sheet,” The Wall Street Journal reported, citing people familiar with the matter. Paramount had bought a majority stake in BET – which encompasses the namesake cable channel, streamer BET+, VH1 and BET Studios – for $2.3 billion USD in 2000.”
