Paramount Buys Out Tyler Perry Stake in BET+, Will Fold Streamer Into Paramount+

Streaming service BET+ is shutting down, and its programming will be folded into Paramount+, the company announced Friday.

Paramount Skydance has bought out Tyler Perry Studios’ equity stake in BET+, which will help facilitate the move. BET Networks president Louis Carr said in a memo to staff that the move will “ensure the stories we champion, the creators we support and the culture we represent [will] go further than ever before.” (Read the full memo below.)

The changeover will happen in June, when about 1,000 hours of BET+ programming will become part of Paramount+, including the Perry-produced All the Queen’s Men and Zatima, The Ms. Pat Show and the critically acclaimed Diarra From Detroit.

Terms of the buyout for Perry’s stake in BET+ weren’t disclosed, but it’s likely in the eight-figure range. Perry will continue to make shows for BET through a wide-ranging content partnership; BET also operates a pair of FAST channels devoted to Perry’s series.

On the Paramount side, CEO David Ellison has repeatedly expressed a desire to scale up Paramount+ — that’s a key motivator behind Paramount’s pending takeover of Warner Bros. Discovery — and bring the company’s streaming operations under one umbrella. The BET+ move is at a much smaller scale than the potential combination of Paramount+ and HBO Max, but it’s a step in that direction.

Carr’s memo is below.

Team BET,

As we continue to drive BET’s growth, our stories have to live in more places. Beginning in June, we are expanding our reach by making Paramount+ the new home for BET+ content. This powerful next step ensures the stories we champion, the creators we support and the culture we represent go further than ever before.

Paramount+ will bring global fans over 1,000 hours of iconic series, films, originals and cultural touchstones that reflect the full spectrum of the Black experience, including hits like THE MS. PAT SHOW, ALL THE QUEEN’S MEN, ZATIMA, AVERAGE JOE and DIARRA FROM DETROIT. Our celebrated Black storytelling will live alongside Paramount’s premium series, sports, specials and films, where it will be clearly branded, prominently featured and easy to find in the BET Hub.

BET is a cornerstone of Black culture and an essential part of Paramount’s portfolio and long‑term content strategy. BET’s linear channel will continue to have a strong presence, and BET Studios remains fully active, producing the compelling, creator‑driven content that defines who we are. BET Digital remains central to our multiplatform strategy as well, driving real-time conversation, audience engagement and measurable growth across social and emerging platforms.

BET has already seen strong momentum by meeting audiences where they are. Through the growth of our FAST channels, we have expanded reach, increased engagement and introduced BET content to new viewers.

What I want you to take away today is this: BET remains strong because of you, your creativity, your resilience and your unwavering belief in the power of our stories. This moment is about growth and about ensuring BET’s voice continues to shape culture at an even greater global scale.

Thank you for everything you’ve done and continue to do to move this brand forward.

– Louis

Deadline first reported the news.