Paramount Global (NasdaqGS:PARA) is in talks to sell its Black Entertainment Television LLC network to a management-led investor group, according to people with knowledge of the discussions. The potential buyers include BET Chief Executive Officer Scott Mills and Chinh Chu, a former Blackstone Inc. executive who runs New York-based CC Capital Partners, said the people who asked not to be identified because the negotiations are private. A price of a little under $2 billion has been discussed, the people said.

Paramount, the parent of CBS, MTV and other channels, shopped the network earlier this year, along with the related channel VH1. The company dropped the sale process after failing to get bids it was satisfied with. Chu has created a number of special purpose acquisition companies to acquire businesses.

Last year, he merged one with the photo archive Getty Images Holdings Inc. A spokesperson for CC Capital declined to comment. TV producer and station owner Byron Allen was among those who made an offer for the Paramount channels earlier this year.