MSG had been trying to sell Fuse for months but on Friday NUVOtv landing a $226 million deal with MSG to acquire the music-oriented cable television network. Jennifer Lopez is minority owner and serves as NuVoTV‘s Chief Creative Officer.
“Music is my first love so the acquisition of Fuse is near and dear to my heart…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,” Lopez said.
The deal is expected to close between July 1 and September 1.
Sean Combs, who is a partner in the new cable channel Revolt, was also reportedly interested in acquiring Fuse. Sorry P.Diddy better luck next time.