Who knew the music channel Fuse was up for sale? I didn’t, but Jennifer Lopez and Sean “P. Diddy” Combs apparently did, as they recently went head-to-head in a bidding war to buy it. That battle was one that JLo’s Nuvo TV company eventually won, picking up fuse for a little over $200 million!
Combs had been desperately trying to combine Fuse with his video channel, Revolt, to build a cable empire of his own.
“This is a real blow to Diddy and Revolt,” said ex-Fuse chief Eric Sherman, who has also worked with J.Lo on TV’s “American Idol.”
“Fuse was such a perfect fit for them. But having worked with Jennifer on ‘Idol,’ I’m not surprised she and her team prevailed.”
MSG said in September that it was working with JPMorgan Chase to find a buyer for the flailing Fuse channel.
In his quest to obtain the network, Combs was backed by billionaire investor Ron Burkle.
Ouch! That’s quite a bit of money to fork out – hopefully the investment pays off. I never really watched Fuse much, but maybe she’ll turn it into something hip!
Photo: FameFlynet / Source