BET Holdings Inc.

Private Subsidiary, Headquarters Location
1235 W St. NE, Washington, DC 20018-1101, United States
(202)608-2000, (202)608-2599 fax, http://www.bet.com

Primary SIC: Cable & Other Pay Television Services, Primary NAICS: Cable and Other Subscription Programming
Description: Communications: Cable and pay television services and broadcasting. Services: Television and motion picture production and distribution. Manufacturing: Book publishing. More

Founder Robert Johnson established his media corporation BET Holdings Incorporated in the early 1980s, with a mission to provide content geared to African-American audiences. After a 1991 IPO that gleaned $72 million on the New York Stock Exchange (BTV), the company underwent significant expansion. By the late 1990s BET Holdings included four cable television channels, including BET Cable Network, plus four magazines and an online service. During the 1990s BET expanded into the leisure industry with the establishment of BET SoundStage Restaurant in Largo, Maryland and plans for a Las Vegas casino. In 1993 BET embarked on a joint venture with the Encore Movie channel, to form BET Film Productions, with BET as the managing partner. The diverse company also maintains interests in cosmetics, apparel, and financial services. BET, with estimated worth at one-half billion dollars, is headquartered in Washington, D.C., BET television stations reached an estimated 58 million households in 1999. In 1999 the company announced plans to partner with News Corporation, USA Networks, and Liberty Media in a $35 million venture to start an Internet site, called BET.com.