The media mogul has made bids for other media groups in the past. In December, he reiterated his interest in BET Media Group and submitted a $3.5 billion offer. He made the move after he learned Paramount, BET’s parent company, was about to sell BET to a management-led group for about $2 billion, which Allen reportedly called a below-market sweetheart deal.
Allen also bid $10 billion for the ABC broadcast network and other properties, though Walt Disney Co. later said it didn’t want to sell.
Allen Media Group owns a broad portfolio of media brands, including theGrio.
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