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Sean ‘Diddy’ Combs puts in $200 million bid to buy Fuse cable channel

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Sean “Diddy” Combs is throwing around some serious cash. According to Billboard on March 10, the rapper and founder of Bad Boy Records has bid $200 million for the music-based Fuse cable-TV channel.

Apparently the Sean Jean fashion line, Revolt TV, as well as owning a piece Ciroc vodka isn’t enough to keep the hip-hop mogul busy. Diddy is one of several bidders trying to purchase Fuse, which is currently owned by Madison Square Garden Co.

If Diddy is the one who purchases the channel, he reportedly has plans to turn the channel into an extension of the all music-channel Revolt TV. Currently Revolt reaches about 22 million Comcast subscribers and 12 million Time Warner cable customers. By adding Fuse, Diddy and Revolt TV would add nearly 73 million Nielsen subscribers.

Madison Square Garden Co. has refused to comment on the possible transaction. A spokesperson for the company, Kimberly Kerns, 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.”

Back in September, news broke that Fuse hired JP Morgan to help shop the channel as a “unique and valuable asset.” A marriage between Fuse and Diddy would make sense because of the entrepreneur’s presence in the music industry and his recognition amongst the 18-34 year old demographic that Fuse serves. He could help the network compete with MTV and VH1 while continuing to build Revolt TV as the #1 name in music.

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