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