For black women entrepreneurs who want to launch their businesses, finding role models and inspiration in the established business world might be challenging. Recent news, however, reveals that significant changes are taking place in the media sector. In exciting announcements, savvy businessmen like Tyler Perry, Byron Allen, and Sean “Diddy” Combs are bidding for control of BET, the “Black-owned global media behemoth.”
Like Byron Allen, Perry has been seeking options to acquire the asset from Paramount Global. Perry holds a minority share in the BET and VH1 company. In addition to his Black News Channel, Allen has invested over $1 billion over the past three years to acquire 27 ABC, NBC, CBS, and Fox stations. And Diddy, even though he is already the owner of Revolt, has also expressed interest in purchasing the majority shares in the BET Media Group.
Some people support Combs’s purchase of BET over the other two billionaires. This is because they believe he has done well with Revolt. Others believe it is a close race between Perry and Allen with no regard for Combs’s interest. Nonetheless, a partnership between the two business titans would be terrific.
In any case, the motivation for these businessmen’s actions is their desire to maintain BET’s Black ownership. They believe it will be better for the company, the culture, and wealth development within the Black community. As a result, these company owners are paving the road for black women entrepreneurs to own significant corporations in the media sector.
Consider this a reminder that all things are possible when we commit and go for it. Tyler’s story alone is a reminder that adversity cannot stop a determined mind.
Below are more resources for black women entrepreneurs:
- The National Black MBA Association provides networking opportunities, mentorship, and tools for black business professionals.
- Black women entrepreneurs can get assistance, education, and resources from the National Association of Black Women Entrepreneurs.
- For enterprises founded by people of color, the Minority Business Development Agency offers grants, loans, and other resources.
- Black Enterprise is a media organization that offers tools, news, and commentary to black businesspeople and entrepreneurs.
So, hey, if you support Tyler Perry purchasing BET say, “Aye.” If you support Byron answer, “Nay.” Comment below and let us know if the “Ayes” or the “Nays” have it.
