Sean “Diddy” Combs has lost out on the opportunity to purchase Fuse due to none other than his former flame Jennifer Lopez.
News surfaced Friday that SiTV Media locked down a deal with the Madison Square Garden Company, Fuse’s owner, valued at approximately $226 million.
SiTV Media owns NUVOtv, the English-language cable entertainment network aimed at Latinos, where Lopez is a minority owner and serves as the network’s chief creative offer.
Earlier this year, Combs put in a bid for Fuse in hopes to strengthen his own Revolt TV which made its debut in October as a music-based digital cable network. Unfortunately for Diddy, J. Lo had the upper hand.
Michael Schwimmer, chief executive officer of NuvoTV, said in a statement, “[The deal] enhances our distribution relationships, dramatically expands our aggregate subscriber base, provides substantial economies of scale, affords unique opportunities for programming and cross-promotion and should be extremely appealing to the advertising community.”