As most of you know, Diddy and J.Lo once dated, but have since moved on in the love department. Diddy also sought to buy Fuse for its distribution. Last month, his Revolt music-focused network bid about $200 million.
Lopez, who holds a minority stake in NuvoTV, is the chief creative officer there and contributes programming through her Nuyorican Productions. The 44-year-old singer, actress and “American Idol” judge also advises the network on strategy and marketing.
NuvoTV raised $40 million in 2012 from Columbia Capital LLC, Rho Capital Partners Inc., Veronis Suhler Stevenson LLC and Tennenbaum Capital Partners LLC. LionTree Advisors LLC advised NuvoTV on the Fuse TV deal. Jefferies Group LLC provided advice and financing.
J-Lo got her start as a dancer on “In Living Color” in the early 1990s. She went on to sell 70 million records, and has business dealings in perfume, jewelry and clothing lines, among other businesses. Her company produces “The Fosters,” an ABC Family series about a lesbian couple raising biological and foster children.
Anywho, congrats to J.Lo! [Bloomberg]