BET+, the streaming platform focused on black culture, will shut down later this year, with its content set to be folded into Paramount+. Paramount Skydance has purchased the ownership stake held by Tyler Perry Studios in BET+, clearing the way for the transition.

In a memo to staff, BET Networks president, Louis Carr, said: “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.”

Carr added that the BET linear channel, BET Digital, and BET Studios will remain active.

Titles on BET+ include Zatima, The Ms Pat Show, Diarra From Detroit and All the Queen’s Men. They are now set to be housed within the BET Hub on Paramount+.

Financial details were not disclosed, but estimates place the value of the deal in the tens of millions of dollars.

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Categories: Business, Headline, M&A

Tags: BET, paramount