Sean "Diddy" Combs Is Building His Media Mogul Status With a $200 Million Bid For FuseTV

We predicted along with many others that Sean "Diddy" Combs will be the first hip hop billionaire and he is putting himself on the path to accomplishing just that. Diddy is slowly building his business holdings which currently includes a marketing agency (The Blue Flame Agency), Beverages/Spirits (Ciroc, Aquahydrate, Deleon), Clothing (Seanjohn), Music (Badboy Records) and a cable network (Revolt). But apparently Diddy isn't stopping there according to a report in Billboard magazine. The report says that Diddy is expanding his media holdings with a $200 million bid for Cablevision's Fuse Network which has been on the block for some time now. If he manages to beat out the other bidders for Fuse, Diddy will officially join the upper echelons of the media industry where he will probably start attending the annual Sun Valley Conference where media and tech moguls like Rupert Murdoch, Les Moonves and Mark Zuckerberg go to make deals.

Combs is among several bidders making a play for Fuse, which launched in 2003 and is owned by Madison Square Garden Co.,  according to the report. The story also claims Diddy plans turn the channel into an extension of Revolt TV. The all music-channel Revolt TV went live last year on Oct. 21 with a reach of about 22 million Comcast subscribers and 12 million Time Warner Cable customers, marking one of the biggest launches of a cable channel in recent years. The much bigger Fuse has some 73 million Nielsen subscribers and is carried by every major multiple system operator in the country.