Tyler Perry is said to have landed a lucrative deal which will see him take charge of the cable channel BET.
Reports indicate the actor, 53, will be given control of BET Media Group which includes networks such as VH1. US media reports claim the acquisition comes as Paramount is losing money.
No further details have yet been disclosed.
Tyler, who has starred in hit show such as Sistas and Diary of a Mad Black Woman, is one of the closest friends to Meghan Markle and Prince Harry.
He has also appeared in Netflix's Don't Look Up in 2021, Gone Girl in 2014, and the 2009 Star Trek remake.
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He has often supported the pair in the media and is rumoured to by their daughter Lilibet's godfather.
It was said that the star gave the Duke and Duchess of Sussex his house and personal security during the coronavirus pandemic after they were left with nowhere to go following their exit from Canada.
Tyler appeared on Harry and Meghan's Netflix docuseries (Netflix)Speaking to Oprah Winfrey in 2021, Meghan said: "We didn’t have a plan. We needed a house and [Perry] offered his security as well so it gave us breathing room to try to figure out what we were going to do."
They later moved into their own nearby property in California.
Tyler said of his actions at the time that he simply wanted to help the couple during what was a "very difficult time for them".
He claimed he wanted to 'support them" in any way possible.
The comedian featured on their documentary series on Netflix. In it, he applauded the couple for their actions. "They just wanted to be free," he said.
Prince Harry and Meghan resided in Tyler's property during the coronavirus pandemic (AFP via Getty Images)"They wanted to be free to love and be happy. I applauded that."
He has also previously opened up to the Today show about the pair's glowing relationship. He said: "What I know about the two of them - and I wish the world knew - how much these two people love each other.
"They found each other, out of all these odds against them finding each other, they found each other.The love they have is really, really moving and I wanted to do anything I could to support them."
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And explaining his thoughts on their relationship, he continued: "If I don't have that, what she and Harry have, I don't want it. That's really amazing."
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