Jennifer Lopez’s channel has reached an agreement from rival cable networks. J-Lo’s NuvoTV has outbid Sean “Diddy” Combs channel in a deal to acquire Madison Square Garden Co’s Fuse TV. This was according to sources that were familiar with the matter who told Bloomberg.
J-Lo won the deal over Diddy after offering more than USD200 million in a deal paid in cash and equity in NuvoTV. This was according to sources who asked not to be named as the deal was held private in nature. The same sources said that the agreement may be announced today.
The deal between Fuse TV and J-Lo’s channel is a move that would reach an even bigger audience. Even as the pop star is already famous, NuvoTV could get more viewers by purchasing a deal with another network than securing agreements with pay-TV operators.
NuvoTV CEO Michael Schwimmer declined to comment regarding the deal. Lopez and business partner Benny Medina did not also respond to calls requesting comments regarding the deal, reported Bloomberg.
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