Diddy & Jennifer Lopez Battle Over Fuse Cable Channel [Details]
The battle over who will be the new owner of MSG’s Fuse TV has just gotten interesting. As reported a few days ago Diddy has put about a $200 million bid in to acquire the rights to the network so that his new venture, REVOLT, could gain distribution to 74 million homes. However looks like his former girlfriend Jennifer Lopez has the same interest in mind for NuvoTV, an English-language cable channel for Latinos.
Lopez, who holds a minority stake in NuvoTV, is the networks chief creative officer and contributes programming through her Nuyorican Productions. NuvoTV is based in Los Angeles and reaches about 34 million households via Dish Network, Time Warner and AT&T.
According to Bloomberg NuvoTV has made an offer for the cable channel including cash and equity valued at more than $200 million. However Billionaire Ron Burkle is reportedly backing Diddy’s bid for Fuse which could prove to make things a little interesting. The winning bid will be selected by the end of the month.