#1 Network for African Americans Adding Iconic Brand and Unique
Intellectual Property Franchise
NEW YORK--(BUSINESS WIRE)--
BET Networks, a division of Viacom (Nasdaq:VIAB, VIA), today announced
it has acquired Soul Train from InterMedia Partners and The Yucaipa
Companies. The acquisition, which brings together two quintessential
African American brands, represents an investment in an iconic franchise
that uniquely lends itself to providing fans with a wide range of
experiences across multiple platforms, beyond the television programs
that audiences have enjoyed for decades. The transaction serves to
further strengthen BET's investment in content and underlines the
network's leadership in music-related content.
Owning Soul Train's intellectual property will allow BET to further
build on the success of the Soul Train Awards, which BET re-launched in
2009, and strengthens the network's commitment to original content. The
assets acquired include one of the largest libraries of African
American, music-oriented content in the world, including over 1,100
television episodes and 40 television specials. Beyond television, BET
will grow the ways in which audiences of all ages are able to interact
with this iconic brand, creating a host of ancillary revenue
opportunities ranging from live events to consumer products.
"BET Networks is honored to have acquired a brand with such a rich
history and unique content that is forever relevant to all segments of
our audience," commented Richard Gay, Executive Vice President, Strategy
and Operations at BET Networks. "With a Broadway play and a concert tour
as examples of opportunities in the works, we look forward to finding
engaging and smart ways to grow the brand while preserving its heritage
and legacy in music, dance and fashion."
About BET Networks
BET Networks, a subsidiary of Viacom Inc. (NYSE:VIA, VIA.B), is the
nation's leading provider of quality entertainment, music, news and
public affairs television programming for the African-American audience.
The primary BET channel reaches more than 90 million households and can
be seen in the United States, Canada, the Caribbean, the United Kingdom
and sub-Saharan Africa. BET is the dominant African-American consumer
brand with a diverse group of business extensions: BET.com, a leading
Internet destination for Black entertainment, music, culture, and news;
CENTRIC, a 24-hour entertainment network targeting the African-American
Woman; BET Music Networks - BET Jams, BET Soul and BET Gospel; BET Home
Entertainment; BET Live, BET's growing festival business; BET Mobile,
which provides ringtones, games and video content for wireless devices;
and BET International, which operates BET around the globe.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160404006149/en/
BET Networks
Terrece Walker, 212-205-3264
terrece.walker@bet.net
Source: BET Networks
News Provided by Acquire Media