Lopez Vs. Combs For Fuse TV
Two halves of a former celebrity couple have lodged competing bids for Madison Square Garden’s Fuse TV cable channel.
Photo: John Shearer / Invision / AP
American Music Awards, Nokia Theatre L.A. Live, Los Angeles, Calif.
The Jennifer Lopez-backed NuvoTV and Sean Combs both recently made offers around $200 million for the channel, sources reportedly close to the matter told Bloomberg News.
Lopez holds a minority stake in NuvoTV, contributes programming to the network and serves as its chief creative officer.
Combs has backing from billionaire Ron Burkle, Bloomberg said, and would convert Fuse TV into his own Revolt TV channel to enhance distribution and bring higher subscription fees.
The Dolan family that owns Fuse has reportedly been asking about $400 million for the network.