Paramount in Talks to Sell BET Network to Management Group (2)

Paramount Global is in talks to sell its Black Entertainment Television network to a management-led investor group, according to people with knowledge of the discussions.

The potential buyers include BET Chief Executive Officer Scott Mills and Chinh Chu, a former Blackstone Inc. executive who runs New York-based CC Capital Partners, said the people who asked not to be identified because the negotiations are private. A price of a little under $2 billion has been discussed, the people said.

Chu has created a number of special purpose acquisition companies to acquire businesses. Last year, he merged one with the photo ...