According to reports, Diddy has thrown his hat in the race to acquire majority stake in BET against the likes of media titans Tyler Perry and Byron Allen. 

A source close to Diddy told Variety that the Bad Boy Records and Revolt TV founder is “exploring the opportunity to purchase BET as a part of his strategy to build a Black-owned global media powerhouse.” However, another source informed Variety that "he is not yet considered to be in talks with Paramount to purchase a majority stake. In fact, that insider says that Paramount is not yet in talks with anyone at this point in the process, but that many parties have expressed interest."

If Diddy manages to pull off the deal, he would position himself to broaden his audience over at Revolt which boasts a reported 12 million digital visitors monthly, plus 18 million social followers.