Who Owns BET?

BET (Black Entertainment Television) was founded on January 25, 1980, by Robert L. Johnson, a Washington, D.C.-based cable industry executive. Johnson launched the network with a $15,000 personal investment and a $500,000 loan from John Malone's TCI (Tele-Communications Inc.), which also received a 20% stake in the company. BET launched as a two-hour weekly programming block on cable systems, initially airing on Friday nights.

The network's early programming consisted primarily of music videos, gospel programming, and reruns of older television shows. BET was one of the first cable networks to focus specifically on African American audiences, filling a significant gap in the media landscape at a time when Black culture and entertainment were largely underrepresented on mainstream television.

BET grew rapidly through the 1980s as cable television expanded across the United States. The network increased its programming hours, added news and public affairs programming, and developed original entertainment content. BET became an important platform for Black musicians, comedians, and entertainers, launching the careers of numerous artists through its music video programming.

In 1991, BET became the first Black-owned company to be listed on the New York Stock Exchange, a historic milestone. The company's IPO raised significant capital that was used to expand programming and operations. Robert Johnson became one of the first Black billionaires in the United States following BET's growth and eventual sale.

In 2001, Viacom acquired BET for approximately $3 billion in stock, taking the company private. The acquisition made BET part of one of the world's largest media conglomerates. Robert Johnson remained as chairman for a period following the acquisition before eventually departing.

Under Viacom's ownership, BET expanded its programming significantly, launching BET Hip Hop Awards, BET Awards, and various original series. The network became a major platform for Black culture, music, and entertainment, with its annual awards shows becoming important events in the entertainment industry.

When Viacom merged with CBS Corporation in 2019 to form Paramount Global, BET became part of the larger media conglomerate. BET+ was launched in 2019 as a streaming service focused on Black content, complementing the traditional cable network.