Jennifer Lopez Outbids Puff Daddy for TV Channel

LopezJennifer Lopez has outbid ex-boyfriend Puff Daddy in a deal to get pay-TV distribution for their respective cable TV networks. The battle added a touch of glamour to the business world as the media awaited to see who would get the deal. Yesterday all was revealed: it was J-Lo who emerged the victor over Puff Daddy.

It is not the first time the two’s conflicts have been a feature of the entertainment world. First making their mark as a celebrity power couple, the two began dating in 19991, they later hit headlines when they broke up in 2001.

The couple met when J-lo was recording her first album On the 6. At that time, Puff Daddy was already well established in the hip-hop world with his 1998 Grammy award-winning album No Way Out. Walking down red carpets with J-Lo on his arm was good for both of their careers and their names in the headlines for the Fuse TV takeover will also do Jennifer Lopez’s deal a lot of good, too.

After the break-up, J-Lo went from strength to strength with hits such as I’m gonna be alright and On the Floor. Her success has been recognized with  a Legend award at the World Music Awards in 2010. And J-Lo has not only been successful in the world of commercial music; she is also quite a player in the movie world, too. Roles in box office hits such as Enough and Maid in New York have made her one of the few artists who have been successful in both Music and Movies.

Lopez is a minority owner of TV network NuvoTV which succeeded in outbidding Puff Daddy to buy Fuse TV from MSG. Nuovo TV’s offer of $226 million and a 15 percent equity stake in the Fuse-Nuvo combination outbid Puff Daddy’s offer of $200 million.

J-Lo has said she wants the deal to help the TV network to reach more Latin people. Currently it has ratings of 34 million households. That could increase significantly with a now available 74 million homes through Fuse TV. And it be Lopez’s responsibility to answer for any failures when it comes to NuvoTV; not only is she an owner of the channel, she is one of its strategy and marketing advisors

Meanwhile, Puff Daddy wanted Fuse TV to help his own network Revolt. Ex-Fuse Tv owner Eric Sherman acknowledged that the Fuse would have been a perfect fit. However, he added that having been J-Lo’s co-worker on Amercan idol, he was not at all surprised that was the one who sealed the deal.

J-Lo said in a statement that her love for music was the reason she had bid so hard for Fuse TV. How much a factor beating Puff Daddy to the deal is anyone’s guess, but no doubt the irony will not be lost on Lopez: a career which was certainly helped on its way by posing in Versace on red carpets on the hip hop mogul’s arms looks set to peak with her topping him in the world of Network TV ownership.

Commentary by Christian Deverille

Sources:
Business Week
New York Post
Vibe

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