Jennifer Lopez-backed channel offers to buy Fuse TV - Bloomberg
REUTERS - Cable channel NuvoTV made a offer to buy Madison Square Garden Co's (MSG.O) Fuse TV for more than $200 million in cash and stock, Bloomberg reported citing people with knowledge of the matter.
Jennifer Lopez-backed NuvoTV's offer pits the pop singer against former boyfriend Sean "Diddy" Combs, who made a bid of about $200 million for Fuse TV earlier this week, Bloomberg reported. (r.reuters.com/xuf67v)
NuvoTV and Madison Square Garden were not available for comment, outside regular U.S. business hours.
Fuse, an American music television network, reaches about 74 million homes through pay-TV systems including DirecTV (DTV.O) and Dish Network Corp (DISH.O).
The celebrity rapper-turned-business mogul Combs planned to merge Fuse with his music cable network Revolt TV, which is backed by Comcast Corp (CMCSA.O), in an attempt to gain wider distribution and higher subscriber fees, the report said.
(Reporting by Anannya Pramanick and Chris Peters in Bangalore; Editing by Gopakumar Warrier)
- Tweet this
- Share this
- Digg this
Trending On Reuters
U.S. video service provider Netflix Inc is likely to enter the Chinese market without a local partner, which could make it harder to do business in the world's biggest internet market widely known for censorship and strict regulation. Article
Interview: Australia says hunt for missing MH370 jet may be called off soon. Full Article
Bangladesh says arrests main suspect in U.S. blogger Avijit Roy's killing. Full Article