Cable Show: Sean Combs Says MSG Used Revolt TV To Bid Up Fuse Sale Price

Rapper and style icon Sean Combs, who’s chairman and co-founder of Revolt TV, says that the music channel was “used as a pawn” in the auction for Fuse, which the parent of Jennifer Lopez’ NuvoTV agreed to buy last monthHis bid in March, estimated at $200M, fell short when Fuse owner MSG agreed to SiTV’s offer of $226M and a 15% stake in the company. “It’s cool. That’s the way business works,” Combs said at a panel at The Cable Show in LA. (Fuse today is laying off staffers as it prepares to merge with NuvoTV.)

Still, Combs is optimistic, promising to make Revolt “the No. 1 brand in music worldwide” — potentially rivaling ESPN and CNN — as he urged distributors to pick up the channel. Television “was a natural evolution for me,” especially as he saw that “music was homeless” on the medium. That “left a wide open space for the No. 1 form of entertainment, especially among Millennials.” (more…)

This article was printed from https://deadline.com/2014/05/cable-show-sean-combs-says-msg-used-revolt-tv-to-bid-up-fuse-sale-price-722617/