Diddy Puts Up A $200 Million Bid To Acquire Fuse TV [VIDEO]
If Diddy has his way, he'll own a bigger chunk of cable TV. Recently, the 44-year-old mogul put his money where his mouth is and bid $200 million to acquire ownership of Fuse TV. Diddy launched his own music network , REVOLT TV, last year in October. If his big money bid reigns supreme, gaining ownership of Fuse would extend his reach in the cable would big time.
As a REVOLT rep put it, the company is "focused on building REVOLT as the #1 name in music." Whether or not Diddy's multi-million dollar offer will be enough to gain him ownership of the 14-year old cable company, is anyone's guess. Diddy is certainly not the only one who'd love to get their hands on the network. However, $200 million is definitely enough money to get some attention and place him in the running for channel. Which by the way is currently owned by the The Madison Square Garden Company.
For now, execs at MSG wouldn't allude to being close to making a decision. They only said that the company is "exploring strategic alternatives" and "will have no further comment during what is still an ongoing process."
F.Y.I., Fuse's target audience is persons 18-49 and that breaks down to about 73 million Nielsen subscribers, give or take a little. In 2008, the station scored a three-year deal to air the Bonnaroo Music and Arts Festival and the Rock and Roll Hall of Fame induction ceremony exclusively .