×
You will be redirected back to your article in seconds

Jennifer Lopez’s NuvoTV to Acquire Fuse Cabler from MSG

The parent company of indie cabler NuvoTV, whose shareholders including Jennifer Lopez, has reached a $226 million deal with MSG to acquire the music-centric cabler Fuse.

“Music is my first love so the acquisition of Fuse is near and dear to my heart,” said Lopez, who serves as chief creative officer for NuvoTV.

“It’s exciting that between NuvoTV and Fuse we’ll have the ability to deliver a broad array of terrific content both from a Latino perspective and across multiple genres, including music, to a broader audience. The acquisition of Fuse means we now own two wonderful assets. It’s a phenomenal time for our company and we look forward to growing both networks in the years ahead.”

Deal unveiled Friday by SiTV Media CEO Michael Schwimmer and MSG prexy-CEO Tad Smith calls for MSG to receive cash plus 15% of the equity in the enlarged SiTV Media parent company of NuvoTV. MSG will have a seat on the board of the privately held SiTV Media.

Schwimmer indicated that SiTV Media intends to keep Fuse operating as a separate entity from NuvoTV, despite speculation that the company would consolidate distribution of the channels.

“The acquisition of Fuse represents a transformational event for us and also provides significant benefits to NuvoTV,” said Schwimmer, who is also CEO of NuvoTV.

Having two channels gives SiTV Media more scale, but Fuse is hardly a must-have channel for MVPDs, meaning that it has limited leverage especially now that it’s removed from MSG. Nonetheless, Schwimmer emphasized the importance of expanding the company’s cable real estate.

“It enhances our distribution relationships, dramatically expands our aggregate subscriber base, provides substantial economies of scale, affords unique opportunities for programming and cross-promotion and should be extremely appealing to the advertising community as we roll out our plans for both NuvoTV and Fuse,” he said.

NuvoTV bowed in 2004 as SiTV, an English-lingo channel targeting U.S.-born Hispanics that was founded by producer Jeff Valdez, who is no longer with the company. The channel was rebranded as NuvoTV in 2011. Lopez bought a stake and signed on as CCO in September 2012.

Fuse reaches about 73 million MVPD homes, compared to about 30 million for NuvoTV.

Among the other contenders for the cabler were Sean Combs, who recently expanded into the cable TV biz with the launch of Revolt TV.

More TV

  • The Last OG

    TV News Roundup: 'Last O.G.' Sets Season 2 Premiere Date on TBS

    In today’s TV News Roundup, “The Last O.G.” announces its Season 2 return date and Variety has the exclusive first look at Fox’s new legal drama “Proven Innocent.” FIRST LOOKS Netflix has announced its new limited series “Black Earth Rising” will launch on Jan. 25. The contemporary thriller series stars Michaela Coel as Kate Ashby, a Rwandan girl [...]

  • Matt Walsh

    'Veep' Star Matt Walsh to Lead ABC Comedy Pilot 'Happy Accident'

    Matt Walsh has been tapped for a lead role in the upcoming ABC single-camera comedy pilot “Happy Accident.” In the series, two Pittsburgh families – a father (Walsh) with three adult daughters, and a hotel lounge singer with her med student son – are forced together after a decades-old secret is revealed. Walsh currently stars in [...]

  • Jane Fonda

    'Grace and Frankie' Renewed for Season 6 at Netflix

    Netflix has renewed “Grace and Frankie” for a sixth season ahead of the Season 5 premiere this Friday. The series stars Jane Fonda and Lily Tomlin as the titular characters who found their lives turned upside down when their husbands (played by Martin Sheen and Sam Waterston, respectively) revealed they were gay and left the [...]

  • CBS' Armando Nunez to Receive Variety

    CBS' Armando Nunez to Receive Variety International Achievement in TV Award

    CBS Corp. veteran Armando Nuñez will be honored in April with Variety‘s International Achievement in TV Award at the MipTV conference in Cannes. The award recognizes individuals who have demonstrated leadership and innovation in the international television marketplace. Nuñez, president and CEO of CBS Global Distribution Group and CBS’ Chief Content Licensing Officer, has spent more than [...]

  • CBS News

    NAACP Slams CBS News' 2020 Team's Lack of Black Representation (EXCLUSIVE)

    The NAACP has slammed CBS News for not including any African-American journalists on its 2020 election coverage team. CBS News came under fire over the weekend after an associate producer tweeted out an image of the news outlet’s 2020 team. In a statement obtained exclusively by Variety, a spokesperson for the NAACP said CBS News’ lineup “proves the voting [...]

  • Mic Alum Marc Paskin Joins UTA

    Mic Alum Marc Paskin Joins UTA News & Broadcast Wing

    Marc Paskin, an alum of ABC News and Mic, has joined UTA’s News & Broadcast division as an agent. Based in New York, Paskin will focus on finding next-generation journalism stars and those who work in the converging worlds of TV and digital. “As is all of media, the news business is evolving rapidly and [...]

More From Our Brands

Access exclusive content