'It’s time for BET to be Black-owned again': Diddy expresses interest in purchasing BET ... as Tyler Perry and Byron Allen have also explored potential purchase

Diddy is the latest person to express interest in purchasing a majority stake in BET Media Group, joining Tyler Perry and Byron Allen on the short list of Paramount's potential buyers.

'It’s time for @BET to be Black-owned again so we have the power to tell our own stories, control our own narrative!' the 53-year-old entertainer and entrepreneur captioned an Instagram post on Wednesday. 'This is not about me it’s about WE!!!!'

Diddy said he was in the process of 'building a team of leaders in the culture to pursue ownership' of the media properties.

'We have to unify our power and resources to create real change!' he said, adding the hashtag #THETIMEISNOW.

Along with the message, he shared a clip from the Earn Your Leisure podcast in which host Rashad Bilal stressed the massive influence media has, and how it is 'extremely important' for Black people - who are unrepresented in media ownership' to have their own media arm.

Looking ahead: Diddy, 53, is the latest person to express interest in purchasing a majority stake in BET Media Group, joining Tyler Perry and Byron Allen on the short list of Paramount's potential buyers. Pictured in Atlanta last year

Looking ahead: Diddy, 53, is the latest person to express interest in purchasing a majority stake in BET Media Group, joining Tyler Perry and Byron Allen on the short list of Paramount's potential buyers. Pictured in Atlanta last year 

Along with the message, he shared a clip from the Earn Your Leisure podcast in which host Rashad Bilal stressed the massive influence media has, and how it is 'extremely important' for Black people - who are unrepresented in media ownership' to have their own media arm

Along with the message, he shared a clip from the Earn Your Leisure podcast in which host Rashad Bilal stressed the massive influence media has, and how it is 'extremely important' for Black people - who are unrepresented in media ownership' to have their own media arm

In the clip, Bilal said that it was 'encouraging' to hear Perry and Allen were linked to a possible purchase.

He said he reached out to that Diddy, who told him about his plans to assemble a 'supergroup' of Black business magnates in an effort to pursue the massive purchase.

'Together we grow - not separately,' Bilal said in the clip Diddy posted.

Diddy is 'exploring the opportunity' of a purchase of the large media property, a source told The Hollywood Reporter Monday.

Insiders close to the New York City native on Wednesday told TMZ that a potential deal is 'a long way' from the negotiating table.

Diddy for the past decade has presided over the Revolt network, and has worked with Paramount in the past on projects such as Making the Band.

Paramount, as condition of the deal, is expecting to remain in business with whoever winds up potentially purchasing the BET properties, a source told THR.

An insider told THR earlier this month that Paramount has commenced with exploration on selling its stake in the conglomerate, which includes the BET network, BET+ streaming service and VH1.

Byron Allen, 61, who owns The Weather Channel, is also interested in buying BET. Pictured Sunday at his Oscars party in Beverly Hills

Byron Allen, 61, who owns The Weather Channel, is also interested in buying BET. Pictured Sunday at his Oscars party in Beverly Hills

Paramount has began looking into selling the lion's share of its stake in BET Media Group, with Tyler Perry, 53, as a potential buyer as talks are in preliminary stages. Pictured in October in LA

Paramount has began looking into selling the lion's share of its stake in BET Media Group, with Tyler Perry, 53, as a potential buyer as talks are in preliminary stages. Pictured in October in LA 

Paramount has commenced with exploration on selling its stake in the conglomerate, which includes the BET network, streaming service and VH1

Paramount has commenced with exploration on selling its stake in the conglomerate, which includes the BET network, streaming service and VH1 

A spokesperson for Allen, 61, who owns The Weather Channel told THR that the businessman 'is interested in buying BET, and he will be pursuing the acquisition of the network.' 

A separate source told the outlet that Perry, 53, who has long worked with BET, has been a prospective purchaser for the entity.

Perry has had a deal in place with Paramount for more than five years, which is coming up for renewal. If the entertainment mogul were to buy Paramount's share, he would own the network on which many of his TV shows are broadcast on. 

Should a deal happen, sources told the outlet, Paramount would be a minority shareholder in BET.

The company BET itself has investors in its subsidiaries, as Perry already owns a stake in BET+ (which launched in 2019), while Kenya Barris and Rashida Jones are among those invested in BET Studios. The investments could cloud the chances for potential mergers involved in such a deal.

If the deal were to take place, according to THR, it would build Paramount's capital to potentially expand its Paramount+ streaming service amid a time of rapid changes in the industry.

Sources told The Wall Street Journal, which first broke news of the potential sale, that Paramount's 'decision to consider selling a majority stake of the assets, which cater primarily to Black audiences, is part of the entertainment giant’s effort to shore up resources to bolster its flagship Paramount+ streaming service and its advertiser-supported free streaming platform Pluto TV.'

Earlier this year, Paramount said it was planning on merging Paramount+ with Showtime, which led to a number of layoffs and changes in management.

Perry has a long-running working relationship with BET, as it was behind his first feature film he wrote, 2005's Diary of a Mad Black Woman

Perry has a long-running working relationship with BET, as it was behind his first feature film he wrote, 2005's Diary of a Mad Black Woman 

A potential deal could give Perry two largescale cable channels to add to his portfolio and a streaming service.

Perry has a long-running working relationship with BET, as it was behind his first feature film he wrote, 2005's Diary of a Mad Black Woman in 2005.

BET, short for Black Entertainment Television, was created in 1980 by one-time cable lobbyist Robert Johnson and his wife Sheila Johnson. Paramount (formerly known as Viacom) bought it for $2.3 billion in 2000.

Major companies including Coca-Cola and General Motors have pledged to heavily invest their ad budget into media companies with minority owners, THR reported, which would not impact Paramount, but could benefit companies owned by Perry.