Jennifer Lopez Outbids Diddy to Acquire Fuse Network

Jennifer Lopez and Diddy

Jennifer Lopez has emerged victorious in the battle of the exes. The “I Luh Ya Papi” singer has outbid her former boyfriend Sean “Puffy” Combs to acquire Fuse.

According to The Hollywood Reporter, cable channel NUVOtv has reached an agreement to acquire music network Fuse from Madison Square Garden Company for $226 million. J.Lo is a minority owner and serves as NUVOtv’s chief creative offer.

“Music is my first love so the acquisition of Fuse is near and dear to my heart,” J.Lo said in a statement. “It’s exciting that between NUVOtv and Fuse we’ll have the ability to deliver a broad array of terrific content both from a Latino perspective and across multiple genres, including music, to a broader audience. The acquisition of Fuse means we now own two wonderful assets. It’s a phenomenal time for our company and we look forward to growing both networks in the years ahead.”

The deal is expected to close between July 1 and September 1.

Before Lopez’s NUVOtv clinched the deal, Diddy, along with billionaire Ron Burkle, had reportedly made a $200 million offer.

Lopez’s manager Benny Medina previously said that there were no immediate plans to change Fuse’s music format. “We do look at these channels as two different companies with two different identities, audiences and goals,” said Medina. “And these shall remain intact.”



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11 Comments

  1. DRB

    They have $200 million in liquid assets to throw in one basket? I know they’re net worths but that’s very hefty.

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    Deejay Reply:

    @DRB, I was thinking the exact same.

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    Mandela Barb Reply:

    @DRB, Why is J.Lo poppin’? No shade, I’m genuinely curious. I have serious difficulties determining the root cause other than her Hispanic heritage and lack of competition in the pop music arena from that angle. Other than that, homegirl is ten albums deep and I can count the songs that I know of her discography on one hand (including features). Again, no shade is intended, but if a bitch wants to try me I’ll go to war. Just remember that you were warned.

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    Deejay Reply:

    @Mandela Barb, Lol why u so angry tho??? Relax a little bit.
    Nobody is trying to fight you over J Lo’s popularity.lol
    This post is about 2 affluent minorities making a major investment, not about who’s “poppin’”.

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    Mandela Barb Reply:

    @Deejay, Never angry, I just know how eager some of these other commentators are to pick a fight.
    They’re poppin’ because they are two affluent minorities making a major investment as you said. If they weren’t poppin’ they wouldn’t have gotten the story. Also, I never said it was about them and how poppin’ they are.

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    muzikxx Reply:

    @Mandela Barb,

    Thankfully her money doesn’t just come from her music career, lol. She was basically the pioneer of pop stars becoming moguls in different ventures. Movies, music, clothing lines, perfumes, sponsorship deals, etc. She’s had the #1 songs, the #1 movies but she stays moving and signing deals. She’s producing tv shows, as mentioned above a creative director for now two tv networks and opened a mobile device retail company. All while still making music and movies.

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    Mandela Barb Reply:

    @muzikxx, Thank you for enlightening me.

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    @AveryVenture Reply:

    @DRB,

    This is how you can tell who is really about their business and who isn’t. The company, not her purchased Fuse for $220M, you don’t outright pay them all of it at one time. You take a bank loan out and pay the bank loan off over time (build’s your business’s credit– yes, businesses like people have credit as well).

    Additionally, she only own a minority stake, which means she’s no risking as much money as you think.

    Furthermore, while paying the loan (or payment arrangement– if the $220M only consists of liquid assets and no private equity, stocks or other commodities) these funds will come from the revenue the network makes. Think of it as someone taking taxes out of your check.

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  2. hood

    puff can take that 200mil and start a black owned banked, that caters to small black business and the average working man..fuck a music station

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    DRB Reply:

    @hood, but he isn’t obligated to …

    [Reply]

    slyboi Reply:

    @DRB, it wasnt stated that he was ….

    [Reply]

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