Ex-Hollywood Couple Diddy & J.Lo Battle Over Fuse Cable Channel

Business over boys and broads, folks! Ex-couple, Jennifer Lopez (affectionately called J.Lo) and Sean Combs (affectionately called ‘Diddy’) are duking it out in business. According to Bloomberg, both entrepreneurs are competing for Madison Square Garden Co.’s Fuse TV.

Here’s what we know thus far–Reportedly, NuvoTV (they’re an English-language cable channel for Latinos backed by J.Lo) made an offer for the cable channel including cash and equity valued at more than $200 million. Diddy has offered to buy the channel for about $200 million.

What makes this story interesting is that both Diddy and J.Lo were, at one point, an ‘IT’ couple in both Hollywood and Hip Hop. They dated from 1999 — 2001. Anywho, each want to buy Fuse to gain distribution to 74 million homes. NuvoTV, based in Los Angeles, reaches about 34 million households through pay-TV operated by Dish Network Corp. (DISH), Time Warner Cable Inc. (TWC) and AT&T Inc. (T).

J.Lo, 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.

If successful on Diddy’s end, he would convert Fuse TV into his Revolt TV cable channel to gain higher subscription fees and wider distribution. Reportedly, Billionaire Ron Burkle is backing Diddy’s bid for Fuse. Burkle’s past investments with Diddy including a $100 million investment in his Sean John clothing line, Women’s Wear Daily in 2003. 

Reportedly, The Dolan family, which spun Madison Square Garden off from Cablevision Systems Corp. four years ago, has about $400 million for Fuse. Various reports suggest the winner will be selected by the end of the month.

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