TVN Entertainment Corp. has reached an agreement to purchase BET Action
Pay-Per-View from BET Holdings Inc., sources close to the situation said.
TVN would acquire the beleaguered analog PPV channel from BET, which did not
include the service in Viacom Inc.'s $3 billion acquisition of the flagship
Black Entertainment Television basic-cable network and other assets.
Sources said BET chairman and CEO Robert Johnson will continue to hold a
minority interest in BET Action, which has about 9 million subscribers.
BET was set to shut down the service Saturday (March 31). BET and TVN
representatives would not comment on the matter.