Movie mogul Tyler Perry now controls BET and VH1.
It is being reported that the Madea series founder is finalizing the deal.
Perry's acquisition of BET marks a major milestone in the entertainment industry as he aims to revitalize the 3 billion dollar network's programming and expand its reach.
The move also highlights the shifting landscape of media ownership and the growing influence of Black American voices in the industry.
The actor reportedly emerged the winner of a multi-billion dollar bid after several prominent black media owners including P. Diddy and 50 Cent were said to be eyeing the network.