News broke late last night that Sean Combs aka Diddy had bid $200 million to acquire Madison Square Garden's Fuse TV channel, presumably in an effort to take over the channel position for his own video channel, Revolt.
The move would bump Revolt's household distribution from around 22 million households to over 75 million.
While $200 million is certainly big money, it's also far lower than the $400 million that MSG had been seeking — and lower than the $500 million that the less widely distributed Current TV got when Al Jazeera purchased it last year.
And, remember, however this pans out: Leaking this news on the eve of SXSW ensures that it will be the biggest news at the world's biggest music conference, which certainly has a value all to itself.
Visit Bloomberg for more info, or Billboard.biz which broke the story...
