BET No Longer For Sale, Paramount Skydance’s New CEO Confirms

Paramount Skydance has officially ended talks to sell BET Networks, putting an end to months of speculation surrounding the network’s fate. The announcement came on Wednesday during an extensive press Q&A, just days after Skydance CEO David Ellison closed his acquisition of the studio.

Ellison affirmed that BET will remain a core pillar of the company’s streaming vision, positioning the brand and its extensive content catalog as vital to future growth. His approach marks a departure from Paramount Global’s recent trend of selling assets to generate quick capital, instead committing to strengthening and retaining existing brands.

In recent years, BET drew interest from private equity firms and prominent Black investors, including Tyler Perry. The potential sale was seen as a major turning point for Black-owned media, sparking debates on the cultural and economic impact such a deal might have. By halting negotiations, Ellison signaled his intent to keep BET firmly under Paramount Skydance’s control, anchoring it as a flagship within the company’s streaming ecosystem.

Ellison revealed that this philosophy was present from his earliest conversations with former Paramount Global chair and majority shareholder Shari Redstone. Their initial meeting, he said, centered on maintaining the integrity of the company’s portfolio — which includes Paramount Pictures, CBS, and BET — and investing in its long-term potential.

“We had this conversation with Shari when we first met about the company,” Ellison told reporters. “It is our intention to keep the company together and invest in that lens.”

The decision comes amid a rapidly evolving media landscape, where legacy networks face fierce competition from tech-driven streaming platforms. BET remains a cultural force, especially in music, film, and television programming for Black audiences. Its high-profile events, scripted shows, and reality series maintain strong engagement across platforms, making it a critical driver of audience loyalty.

With BET’s position secured, Ellison’s strategy reflects a broader industry shift toward consolidation over liquidation. For audiences and industry insiders, the move offers a rare sense of stability — and the promise of expanded cultural influence for one of television’s most enduring brands.