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Sean Combs, also known as P. Diddy, has reportedly placed a $200M bid for MSG's Fuse network.
Bloomberg first broke the story, saying that Combs placed a bid for the music focused network. They cited three people very close to the negotiations.
If Combs was able to obtain the Fuse network it would likely be to help Revolt, a cable network that he launched last fall with the support and backing of Comcast Corp, Variety reported.
Fuse currently reaches about 74 million homes through a pay-TV system. Combs' current network only reaches 22.8 million. He would be able to use Fuse to distribute Revolt, which would result in a large distribution network.
Fuse spokeswoman, Kimberly Kerns, commented on the alleged bid. "As we have stated, we are exploring strategic alternatives for Fuse, and will have no further comment during what is still an ongoing process," said Kerns.
Back in September, Madison Square Garden, which is the parent company of Fuse, decided to hire J.P. Morgan to explore strategic alternatives for the cable network.
image: Wikimedia Commons