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Sean Diddy Combs bids $200 million for Fuse TV Network

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Hip hop mogul Sean “Diddy” Combs bid $200 million for Fuse TV Network, a cable company owned by Madison Square Garden Co. according to Bloomberg.

If Diddy does acquire Fuse TV, he intends to fuse it with his newly-acquired Revolt TV. Revolt TV reaches an audience of about 22.8 million while Fuse TV reaches an audience of about 74 million

Combs already has his own clothing line Sean John, founded vodka brand Ciroc and founded Bad Boy Entertainment. He is one of the richest rappers and continues to expand his empire.

Music channel Revolt TV plays music videos, live performances and interviews. By acquiring Fuse TV, Diddy would increase his audience and thus have higher subscriber fees.

However, acquiring Fuse TV won't be easy. There are said to be other bidders besides Diddy. Also, the Dolan family is said to be asking for about $400.

Michael Senno, an analyst for Credit Suisse, predicted in September 2013 that Fuse TV would receive bids between $200-$250 million.

The process is still on-going and nothing has been decided. If Diddy does acquire Fuse TV, he may be closer to becoming the first billionaire rapper.

Jay Z has made strides to inch closer to becoming a billionaire but he doesn't have the influence that Diddy has. Diddy will most likely become the first billionaire rapper, even though he might have to wait a while before that actually happens.

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