Diddy is looking to expand the reach of his music channel Revolt. The media mogul recently made a bid to buy the music channel Fuse. Apparently, his bid was for a great deal of money.
According to Bloomberg, Fuse reaches 74 million homes while Diddy’s channel only reaches 22.8 million homes. Due to this, Diddy has reportedly bid $200 million on Fuse TV, which is owned by the Madison Square Garden Company. On top of dicy reaching mrs homes, if he purchase FUSE TV, he will be able to raise the subscription fees.
While Bloomberg is reporting the potential sale, all involved parties are keeping mum on the details for now. Kimberly Kearns, a spokesperson for the MSG Company, said, “As we have stated, we are exploring strategic alternatives for Fuse, and will have no further comment during what is still an ongoing process.”
Although it’s great Diddy made a bid on the company, he might not get it because he offered $200 million for it and the MSG Company’s asking price is double his bid. An analyst at Bloomberg named Paul Sweeney says two hundred million is a low offer for a channel that reaches 75 million homes across the country.
We have to sit back and wait to see what happens with this one. If the deal goes in Diddy’s favor, this will be a great look for him and Hip-Hop. If it doesn’t go his way, he’ll probably wait a few years and make another bid. You know Diddy can’t tsp and won’t stop.