Rap tycoon Sean Combs, aka Puff Daddy, was locked in a bitter bidding war with ex-girlfriend, Jennifer Lopez, for the rights to acquire Fuse TV.
Puff, who hates to lose, was outbid by J-Lo and the NuvoTV network -- the media outfit that ponied up the cash for the purchase. Puff Daddy badly needed Fuse TV's viewership to boost the ratings of his own Revolt TV. Fuse TV is seen in 74 million homes while Revolt TV is only in 22 million homes.
From the NY Post:
Jenny from the Block has clocked ex-boyfriend Sean “Diddy” Combs in a high-stakes battle to purchase a cable music network.
The NuvoTV network — in which Bronx-born singer Jennifer Lopez owns a minority stake — outbid her former beau in a fierce competition to buy the Fuse channel from MSG, sources told The Post.
Combs offered nearly $200 million for Fuse, but was slightly outbid by J.Lo’s operation.
Combs had been desperately trying to combine Fuse with his video channel, Revolt, to build a cable empire of his own.
“This is a real blow to Diddy and Revolt,” said ex-Fuse chief Eric Sherman, who has also worked with J.Lo on TV’s “American Idol.”
“Fuse was such a perfect fit for them. But having worked with Jennifer on ‘Idol,’ I’m not surprised she and her team prevailed.”