Diddy Bids $200 Million on Fuse, May Merge With Revolt TV
Diddy is getting his hands into everything these days. He’s already founded a record label, fashion line and TV network. And we can’t ignore all the times we’ve either seen him holding a bottle of Ciroc or appeared in one of the vodka’s “Rat Pack” style commercials. So it’s not too surprising that the hip-hop mogul has just put in a $200 million bid for Fuse.
While Diddy isn’t the only reported bidder for the TV network, which launched in 2003, according to Billboard, sources are saying that he wants to turn it into an extension of his own multi-platform TV network, Revolt TV, which launched last year.
Despite the bid, Madison Square Garden Co., the channel’s current owner, said they are still looking at what’s on the table. “As we have stated, we are exploring strategic alternatives for Fuse, and will have no further comment during what is still an ongoing process.”
While MSG is being quite diplomatic, we’re sure that Diddy is confident in thinking he’s got this one in the bag. However, the Revolt camp was quite vague about the bid as well. “As of right now we’re just focused on building REVOLT as the #1 name in music,” a Revolt rep said.
Since its launch on Oct. 27, 2013, Revolt TV has reached about 34 million Comcast and Time Warner Cable subscribers. Meanwhile, Fuse reaches 73 million Neilsen subscribers and is part of every major cable operator in the U.S. The union of these two networks could be a major power move for Diddy if he wins the bid.