Multi-media mogul, mega millionaire, and RevoltTV front man Diddy, who now goes by Puff Daddy(again), recently lost out on a serious bidding war for the cable music network FuseTV. "[I was] used a a pawn," Puff said yesterday at a panel for "The Cable Show" in LA. "It's cool. That's the way the business works."
Puff is claiming that Madison Square Garden, owners of FuseTV, used his interest in purchasing the network to fuel the negotiations and increase the price, finally seeing a sale at around $226M. The winning company, coincidentally, was NuvoTV, of which Puff's ex-girlfriend and star in her own right, Jennifer Lopez, is part owner. For those curious, the plan was to use FuseTV's resources to strengthen the name of Diddy's newest media venture RevoltTV and help make it even more of a market contender.
But all is not lost, as Diddy promises that Revolt will be "the #1 brand in music worldwide" and predicts that in five years Revolt could be accessible on more than 1 billion devices, keeping in trend with the upcoming generation that is completely engrossed with technology. For those of us that grew up with REAL MTV/BET?VH1/The Box, how do you think RevoltTV is standing in comparison, or in response to music television today?
Source: hiphopwired.com
