BET Founder Robert L. Johnson is majority owner of the Bobcats Basketball Holdings L.L.C.—the parent company for the Charlotte Bobcats NBA franchise and arena operations. The company, formerly Bobcats Sports & Entertainment, reached revenues of $112 million in 2008 — up 6.6% from the previous year.
In April 2008, Johnson announced the company’s naming rights agreement with Time Warner Cable and Fox Sports Net South. Under the deal, the Charlotte Bobcats Arena was renamed the Time Warner Arena, and regional coverage of the Bobcats games broadcast on Fox Net South after previously airing on News 14 Carolina.