Looking to add to his growing empire Sean “Puff Daddy” Combs began a bidding war with his world famous ex, Jennifer Lopez. In a shocking way, J-Lo bested her ex to acquire music channel Fuse TV, according to Billboard.com
This is not J-Lo’s first step into TV ownership as she currently is a minority owner in NuvoTV. Fuse is currently owned by Madison Square Garden Company. “Things are in that 99.9 percentile,” says a source familiar with the negotiations, which began when NuvoTV reportedly offered cash and equity valued at more than $200 million.
Overall the details to this deal are very scarce at the moment. The most light that has been shed on the story came from Jen’s manager Benny Medina. He mentioned that there are no plans to combine the two companies into one. “We do look at these channels as two different companies with two different identities, audiences and goals,” he said. “And these shall remain intact.”
This is great for music as Revolt TV just launched an has raised the bar for music television. Lets hope this does more for music and have more music and programs focused on musician, especially the unsigned and independent ones.