Sean “Diddy” Combs wants to build a strong media company with the help of other people who have worked in the entertainment business for a long time.
In an interview with Billboard, the founder of REVOLT talked about how he wanted his company to grow.
Diddy told the magazine, “As far as our business plan goes, we’re in acquisition mode to really build a Black-owned media conglomerate.” “That’s why we were looking at BET and a couple of other businesses.”
Variety says that Diddy was one of the public figures who wanted to buy a majority stake in the BET Media Group “to build a Black-owned global media powerhouse,” which was originally reported by AFROTECH. In August 2023, Paramount said that it was no longer interested in making bids for the sale.
Billboard says that Diddy is still hoping that Tyler Perry and Byron Allen, two other people who put in bids for BET, will join forces with him for another chance.
“BET is definitely the center of Black media and has been since the beginning,” Diddy said.
“We won’t be able to be as successful in the media world as someone like Rupert Murdoch if we don’t work together,” he said. “Just like me, Tyler Perry, and Byron Allen. We have a responsibility because there are 10 billion people in the world and only 15 of us making money.
During the Billboard interview, Diddy also talked about the state of the music business, including how it doesn’t have enough different kinds of music.
“We have some people who speak for us… “Shout out and respect to all the people in charge,” he said. “But most people still have someone in charge of them, usually a white man, from whom they have to ask permission to do something. And it’s always been the same, no matter what business.”
He went on to say, “Diversity isn’t about being included; it’s about sharing power.” Nothing has changed, either. It has become worse.”
Diddy did something in the music business earlier in September. According to AFROTECH, he turned down a nine-figure offer for Bad Boy Records’ whole catalog and is instead giving the acts who used to be on his label their publishing rights back. People said that Diddy did this to help artists and make his community better, and he hoped that other top music producers would follow his lead.