Bloomberg is reporting that Sean “Diddy” Combs
has bid about $200 million for the music-themed cable channel Fuse, according to three people with knowledge of the situation.
The plan would be to convert the channel into his own Revolt TV, which would give his fledgling network wider distribution and higher subscriber fees, according to one of the sources.
Fuse, owned by New York-based Madison Square Garden Co., is available in about 74 million homes through pay-TV systems including DirecTV, Dish Network Corp. and Cablevision Systems Corp., compared with Revolt TV, which reaches about 22.8 million homes and is carried by Comcast and Time Warner Cable Inc.
Combs, 43, is one of several Fuse bidders, according to Bloomberg’s three sources, who requested anonymity because the talks are private.
“As we have stated, we are exploring strategic alternatives for Fuse, and will have no further comment during what is still an ongoing process,” Kimberly Kerns, a spokeswoman for MSG, said yesterday in an e-mail.