Wednesday, October 22nd13.3°C
23840
22916

Jennifer Lopez-backed company buys Fuse music network for $226 million

NEW YORK, N.Y. - The Jennifer Lopez-backed company that owns NUVOtv, an English-language cable entertainment network aimed at Latinos, has bought the Fuse music network.

SiTV Media said Friday it had agreed to pay $226 million to Fuse's owner, the Madison Square Garden Co. SiTV reportedly outbid Revolt, the music network started by Sean Combs.

Fuse is in 73 million homes, more than twice that of NUVOtv. SiTV announced no plans to change or close Fuse, although there is precedent for companies buying networks with greater distribution in order to help their own networks grow. Al-Jazeera bought Current TV and shut Current down.

Lopez is a shareholder and chief creative officer at NUVOtv.

The Canadian Press


Read more Business News

23028


Recent Trending




Today's Market
S&P TSX14547.71+209.94
S&P CDNX822.2810.93
DJIA16614.81215.14
Nasdaq4419.479+103.404
S&P 5001941.28+37.27
CDN Dollar0.8901-0.0008
Gold1247.30-4.3999
Oil81.87-0.09
Lumber329.70+0.10
Natural Gas3.704-0.007

 
Okanagan Companies
Pacific Safety0.100.00
Knighthawk0.01-0.005
QHR Technologies Inc1.17+0.05
Cantex0.055-0.025
Anavex Life Sciences0.192+0.001
Metalex Ventures0.045-0.005
Russel Metals33.09+0.81
Copper Mountain Mining2.17+0.18
Colorado Resources0.150.00
ReliaBrand Inc0.012+0.0009
Sunrise Resources Ltd0.060.00
Mission Ready Services0.46+0.01

 



23658

FEATURED Property
2108709#113-511 Yates Road
2 bedrooms 2 baths
$300,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Keep it rubber side down

This time of year, I always worry about which friends of mine will get caught going off the road in adverse weather conditions. With a little preparation most accidents can be avoided. Having won the...


Big bank predicts rate hike

Photo: Thinkstock.comThe end of record-low rates is nigh, according to one major bank, which has taken a stance and predicted when the Bank of Canada will raise its long-standing overnight rate. &ldq...


Experts share strategies in Kelowna

The third week in October is “Small Business Week”, a week dedicated to supporting local, small businesses. The week was designed to bring awareness to Canadians about the role small busin...

_








Member of BC Press Council


23091