The Wall Street Journal reported last week that Paramount Global was interested in selling BET Media Group in an effort to distribute more attention and resources to its streaming services, Paramount+ and Pluto TV. Following the report, Black media moguls Tyler Perry and Byron Allen were quickly confirmed to be interested in purchasing BET. Earlier this week, Diddy also expressed interest in acquiring the platform.

Following news of his interest in purchasing BET, Diddy took to social media to speak on the power of media and why BET's new owner should be Black. The REVOLT founder reposted a video explaining the media's influence while captioning the post with his own thoughts.

"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. "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!!!! I'm building a team of leaders in the culture to pursue ownership in @BET together! We have to unify our power and resources to create real change!"

Diddy, who already owns the media platform REVOLT, has a previous business relationship with Paramount Global after producing multiple iterations of his "Making the Band" series with MTV. BET Media Group currently includes BET, BET+, BET Studios, and VH1.