Company has captured niche in African-American market

Tuesday, June 3, 1997 | 11:32 a.m.

BET Holdings Inc. is one of the fastest-growing media-entertainment companies in America.

Founded in 1980, the company now has a market value of more than $500 million and is the only black-owned and operated public company trading on the New York Stock Exchange.

During the past two years, BET Holdings has been recognized by Forbes magazine as one of the best small companies in America.

The company operates four major cable channels:

-Black Entertainment Television, a 24-hour programming service reaching some 50 million U.S. homes and more than 90 percent of all African-American cable households.

-BET on Jazz: The Cable Jazz Channel, a 24-hour jazz programming service reaching more than 2 million domestic and international subscribers.

-BET Movies, the first 24-hour, all black movie channel, which reaches 300,000 subscribers.

-BET Action Pay-Per-View, which reaches 10 million subscribers.

The company has also moved outside the cable industry with ventures including:

-Emerge: Black America's News Magazine.

-BET Weekend, the nation's third-largest black publication with more than 1.2 million readers.

-MSBET, a partnership with Microsoft Corp. that produces Internet and interactive content.

-BET SoundStage, a new themed restaurant in Washington, D.C. with plans to expand to 20 markets.

-A BET-brand retail clothing line in partnership with G-III Apparel Group Ltd.

Also in the works, a BET credit card.

In addition, BET chief Robert Johnson wants to build the first black-controlled movie studio and the first Las Vegas black-oriented hotel-casino.

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