Jennifer Lopez Wins Bid For Fuse TV Beating out Ex, Sean "Puffy" Combs

The heated bidding war (if you want to call it that) between ex flames Jennifer Lopez and Sean "Puffy" Combs has ended as Lopez's Nuovo TV officially enters final talks with the MSG owned music network. Looks like Mr. Combs didn't want it bad enough.

NuvoTV, backed by Jennifer Lopez, has reached an agreement to buy Fuse TV from Madison Square Garden Co., the companies announced today. Bloomberg News reported yesterday that a deal had been reached. The pop star and entrepreneur, known as J-Lo by fans, outbid hip-hop mogul Sean “Puff Daddy” Combs, offering $226 million in cash and a 15 percent equity stake in the combined Fuse and NuvoTV, an English-language channel marketed to Latinos.

NuvoTV will use Fuse to expand its audience. Even with Lopez’s star power, the channel can more easily gain eyeballs by acquiring another network than by trying to secure its own deals with pay-TV operators. Los Angeles-based NuvoTV reaches more than 32 million households, less than half of Fuse TV’s 73 million. Time Warner Cable Inc. and DirecTV (DTV) have been dropping low-rated channels to focus on the most popular ones. 

source›› bloomberg