WASHINGTON -TVN Entertainment Corp. has reached an agreement to purchase BET Action Pay-Per-View from Black Entertainment Television, sources close to the situation said.
TVN would acquire the beleaguered analog pay-per-view channel from BET, which did not include the pay-per-view channel in Viacom Inc.'s $3 billion acquisition of the flagship BET 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 last Saturday (March 31). BET and TVN representatives would not comment on the matter.
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