Diddy Bids $200M For Fuse TV To Merge With REVOLT
Now that REVOLT TV is firing on all cylinders, Diddy isn’t pinching his pennies in order to wipe out his competition.
The first paper tiger he’s looking to whack with a bag of money is Fuse TV.
As of today, REVOLT is only available on Time Warner Cable but the potential merger would immediately make them available on more networks. The initial bid is a reported $200 million.
Reports The Wrap:
Hip-hop mogul and Revolt TV co-owner Sean “Diddy” Combs bid roughly $200 million for cable TV channel Fuse.
Combs would convert Fuse, currently owned by Madison Square Garden Co. (MSG), into Revolt TV, Bloomberg reported. Revolt is backed by Comcast; Combs is one of several bidders.
Should the purchase go through, Revolt TV would gain wider distribution and higher carriage fees.
Fuse is available in about 74 million homes through pay-TV systems including DirecTV, Dish Network and Cablevision. Revolt TV, which is carried by Comcast and Time Warner Cable, reaches about 22.8 million homes.
“As of right now we’re just focused on building Revolt as the number one name in music,” a Revolt TV spokesperson told TheWrap.
“As we have stated, we are exploring strategic alternatives for Fuse, and will have no further comment during what is still an ongoing process,” an MSG spokesperson said in an email.
Even though they boast those 74 million home circulation numbers, when’s the last time you tuned into Fuse?