Paramount Existentialism & More Goldmanology

Shari Redstone’s Paramount Global now has a market value of $9.75 billion.
Shari Redstone’s Paramount Global now has a market value of $9.75 billion. Photo: Kevin Dietsch/Getty Images
William D. Cohan
August 20, 2023

Earlier this week, the Journal reported that Paramount Global was pausing its sale of BET, the historic cable asset and brand, presumably because the bid-ask spread was too wide. Shari Redstone may be increasingly eager to strip down the franken-asset she created from her twin family heirlooms only a few years ago—over the long-held views of her father, Sumner Redstone, and my own advice, as loyal readers well know—but she won’t sell cheap, apparently. My partner Matt Belloni recently noted that all may not be lost—and that Tyler Perry, as I mentioned a few weeks back, remains in the hunt for the division. Perry already owns 25 percent of BET’s streaming business and that puts him in, or near, the driver seat, if he wants to take the whole thing, or so at least you would think.